The Capital Markets Authority (CMA) has announced the issuance of a license to Gulf Capital Investment Company to establish the Al-Lu’lu’a USD Money Market Fund, in accordance with Islamic Sharia principles. The license was granted under the provisions of Resolution No. 88) of 2025 concerning collective investment scheme licenses, issued on May 7, 2025.

The license was officially issued on July 15, 2025, following the fund’s fulfillment of all requirements and conditions, most notably the completion of the minimum capital requirement, as stipulated in Article 9 of the same resolution. This article specifies that the license is granted once the fund meets the minimum capital requirement for a period of three years from the date of its registration in the CMA’s fund registry.

The Al-Lu’lu’a USD Money Market Fund license was granted on July 15, 2025, for an initial term of three years, renewable upon expiration, and will operate in compliance with Islamic Sharia standards.