The Mutual funds are considered among the main financial products of the Financial Investment Bank. The listing of these funds in Khartoum Stock Exchange have greatly helped to realize one of the main objectives of FIBA i.e. expanding transaction activities in KSE.

The Mutual Funds are normally built-up from a collection of financial resources which are raised by different investors. They are invested in a carefully selected field(s) of activity. These may include securities, agriculture, industry, exports, trade, services, real estate ….etc.

Depending on the size of capital, objectives and date of maturity, the investment funds are designed in such a way to suit the interest of different investors.

FIBA Mutual Funds are founded on the basis of detailed studies to assure the viability of anticipated activities and, to insure reasonable rates of profits. The approval of Funds normally involves three levels of authority:

It is first presented to FIBA’s Shari’a Supervisory Board to insure compliance with Shari’a principles.

Thence, it is passed to the Bonds Issuance Regulatory Committee (BIRC), stipulated by the Financing Bonds Law , (1995) . The (BIRC) has to insure the compliance of funds to shari’a principles , Khartoum Stock Exchange Law (1994), and Financing Bonds Law (1995).

Finally, on the recommendation of (BIRC), the Funds are approved by the Minister of Finance & National Economy.

All issued funds are of closed end type i.e. both capital and maturity date are predetermined . The generated profits - if any - are either distributed periodically during the operation of the fund or at maturity .

FIBA’s Mutual funds have the following advantages :

Founded on carefully selected investment opportunities and , are based on adequate financial analysis .
Managed by qualified staff .
Launched in accordance with detailed prospectus , thus enhancing proper decision making .
Controlled by an independent custodian .
Exempted from all types of taxes .
Easy to liquidate and/or trade .
High profit rates compared to other investment deposits .

FIBA started this activity in May 1999 when two mutual funds were issued . Thence , more funds were issued to reach the total of nineteen by the end of 2008 . Money invested in these Funds was SDG 116 Million by the end of the year 2008 .

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