SASLO Advises The Imam Jabir bin Zaid Waqf Foundation on the launch of the ‘Gheras Endowment Investment Fund’

We are pleased to announce that SASLO, acting as legal counsel, has advised on the successful launch of the Gheras Endowment Investment Fund, marking a significant milestone as the Sultanate's first endowment investment fund on the Muscat Stock Exchange.

The Gheras Endowment Investment Fund is designed to simplify investment operations by consolidating all Islamic endowments through a single platform for both private and public Endowment (Waqf) institutions.

Image Courtesy: Imam Jabir bin Zaid Waqf Foundation

The SASLO team was led by Partner, Thamer Al-Shahry and Head of Corporate, Jeremy Pooley, with support from Associate Shadha Al Kharusi.

Thamer Al Shahry expressed his satisfaction, stating, 'We are honored to have represented the Imam Jabir bin Zaid Waqf Foundation in the launch of this highly innovative fund. As Oman's first open-ended endowment investment fund, its establishment required extensive collaboration with Oman's Capital Market Authority (CMA), navigating through unique challenges within the securities law and the applicable Waqf regulatory framework. We extend our heartfelt gratitude for the unwavering support received from the Imam Jabir Bin Zayed Foundation, the Ministry of Endowments and Religious Affairs, the CMA, and Ubhar Capital throughout this process.'

The Fund, structured as an open-ended endowment fund offered through a special subscription, aims to distribute a permanent income from the net returns of the fund for the benefit of investors. The fund also allows for efficient portfolio diversification, serving the interests of the endowment, the endower, and the benefiting entity through investments in various assets.

For more information about the subscription, please visit the CMA website