Wheelbarrows (www.BarrowsHotels.com)the provider of hotel investment and advisory services for hotels in the Middle East and Africa, begins offering Shariah-compliant investments to its Muslim boutique clients.
Sharia-compliant investments are investments governed by the requirements of Sharia and the principles of the Islamic religion. Sharia-compliant funds are considered a type of socially responsible investment.
Barrows recognizes a rapidly growing market within its Muslim customers. According to a report by the Malaysia Islamic International Center, total global Islamic assets under management stood at $70.8 billion at the end of the first quarter of 2017. Since then, global Islamic investments have increased significantly.
Part of Sharia-compliant investments are investments excluding alcohol and pork products, for example. Barrows develops special formulas of hotel real estate by excluding these elements and going further. The board will appoint a department specializing in Shariah compliance and Shariah auditing, Barrows Chairman Erwin Jager said.
The Middle East and West Africa are growing strongly. In the coming decades, Barrows will develop more estate hotels combined with new infrastructure that generates high occupancy by new and existing visitors, jobs and new business opportunities based on Shariah compliance.
Barrows Hotel Enterprises globally manages more than 10,000 hotel rooms in more than 10 countries. Barrows specializes in the fast growing hospitality industry across the MENA region, including West Africa.
Distributed by APO Group on behalf of Barrows Hotel Enterprises.
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