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Capital markets regulator, Capital Markets Authority (CMA), has outlined plans to facilitate the introduction of ethical funds as part of its efforts to deepen capital market products.
In a trendsetting move, CMA licensed the first Ethical Fund, First Ethical Opportunities Fund, sponsored by FCB Capital, and has through engagement with Islamic Finance stakeholders, identified key focus areas touching on broad market education, tax harmonisation and formulation of policy and legal frameworks to help accelerate the growth of such new capital markets products.
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