SBI defers Sharia-compliant MF launch, cites no reason

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download (3)By MMN,

Mumbai, I Nov 2014 :  State Bank of India,the  India’s largest state-owned bank, The defferred the much awaited Sharia-compliant mutual fund that was to be launched on Monday December 1 without giving any reasons.

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The announcement in this regard is made November 30 on the SBI Mutual Fund website.

A brief public notice put up on the website of SBI Mutual Fund said, “Investors are hereby informed that it has been decided to defer the launch of the New Fund Offer of Sharia Equity Fund.”

The notice ia signed by Dinesh Khara, MD & CEO SBI Mutual Fund. It has no mention whatsoever of when will it be launched.

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