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Best Islamic fund manager
CIMB-Principal is not the biggest fund manager in Islamic finance; that’s the Al Ahli business within Saudi Arabia’s National Commercial Bank. It’s not even the biggest Islamic mutual fund manager in Malaysia, a title held by Public Mutual. But it stands out for being at the forefront of efforts to make Islamic asset management international.
This stands to reason: it was the first licensee under the Malaysia International Islamic Financial Centre, which exists specifically to make Malaysia a hub of international Islamic capital, and it combines the smartest bank in Malaysia with the global reach of Principal Financial Group.
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