Sambacapital, the investment arm of Samba Financial Group, has launched the \"Al-Nafees Global Commodities Equity Fund\",  a Shariah-compliant, US dollar denominated open-ended fund, managed in compliance with the Investment Funds Regulations issued by the Capital Market Authority (CMA). The fund will invest in stocks of the most promising global companies related to the commodities sector that are expected to benefit from growing global demand for basic commodities. Sambacapital says that the fund will target long-term capital growth through investment in global Shariah-compliant equities that derive their primary revenues from the production and distribution of basic commodities. The minimum required subscription in the Fund is $2,000, and it will be available for investment to all individuals, citizens and expatriates, as well as government and private institutions, corporations, and agencies in the Kingdom in accordance with the terms and conditions of the Fund. Eisa Al-Eisa, chairman of Sambacapital, said: \"The launch of the Al-Nafees Global Commodities Equity Fund aligns with Sambacapital\'s efforts to offer innovative investment products to our customers in the Kingdom. Commodity related companies are capitalizing on growing global demand due to rising population, rapid industrialization and increased consumption. Today the contribution of this vital sector to global GDP is around 15 percent\". Al-Eisa added: “The Al-Nafees Global Commodities Equity Fund will be benchmarked against the MSCI ACWI Islamic Select Commodities Related Capped Index offering investors in the Kingdom a unique opportunity to tap into the exciting commodities market without taking direct risk on commodity prices or speculating in commodities futures. Instead, it provides exposure in equities of carefully selected blue chip companies in the global commodities sector. The fund will invest in five broad categories of global commodity producers relating to agriculture, energy, base metals, precious metal, and others such as renewable energy, timber and water.” Al-Eisa indicated that all statutory formalities relating to the launch of the fund and necessary regulatory approvals required from CMA, have been finalized and the mechanism for necessary Shariah controls established. The fund\'s management team comprises investment professionals with experience of investing in international equity markets.