SASLO played a pivotal role in the historic launch of the Gheras Endowment Investment Fund, the Sultanate’s first-ever Sharia-compliant investment fund listed on the Muscat Stock Exchange. Their expertise navigated the unique legal landscape, paving the way for this groundbreaking initiative.
SASLO’s Role in the Gheras Endowment Investment Fund:
- Expert legal counsel: Advised the Imam Jabir bin Zaid Waqf Foundation throughout the fund’s development and launch.
- Overcoming regulatory hurdles: Collaborated closely with the Capital Market Authority and Ministry of Endowments and Religious Affairs to ensure compliance with all relevant securities and Waqf regulations.
- Structuring a first-of-its-kind fund: Crafted an open-ended, Sharia-compliant structure that facilitates ongoing investment and maximizes returns for stakeholders.
Thamer Al-Shahry (pictured), Partner at SASLO, expresses his satisfaction:
“Representing the Imam Jabir bin Zaid Waqf Foundation in this landmark project was truly an honour. Establishing Oman’s first open-ended endowment investment fund was a unique challenge, requiring a deep understanding of both securities law and Waqf regulations. We are grateful for the trust placed in us and the collaboration with all stakeholders to make this historical achievement a reality.”
Jeremy Pooley (pictured) is a Special Counsel and Head of SASLO’s Corporate Team.