Kuwait Capital Markets Authority has granted Gulf Capital Investment Company a collective investment scheme licence to establish the Pearl Money Market Fund, a US dollar-denominated money market fund structured in accordance with Islamic Sharia. The licence was issued for a renewable period of three years. The authorisation was granted under the Capital Markets Authority’s securities law and executive bylaws and is based on Resolution No. 88 of 2025. The decision references Article Nine, which links the fund’s licensing to completing the minimum capital and a three-year period from the fund’s registration in the Authority’s Funds Register.
Kuwait Capital Markets Authority 2025-07-15
Kuwait Capital Markets Authority grants Gulf Capital Investment Company a Sharia-compliant licence to launch the Pearl USD money market fund
The Kuwait Capital Markets Authority has licensed Gulf Capital Investment Company to establish the Pearl Money Market Fund, a USD-denominated fund compliant with Islamic Sharia. The licence, valid for three years, was issued under the Authority’s securities law and executive bylaws, referencing Resolution No. 88 of 2025 and Article Nine.