Dubai Shariah Asset Management has signed a memorandum of understanding with Mondial (Dubai) to offer its Shariah fund products to seven countries, most of which are in Asia.

The DSAM Kauthar Funds will be distributed to the UAE, Indonesia, Malaysia, Singapore, Hong Kong, Australia, and India, as the company seeks to tap the growing demand for Islamic products in both the Middle East and Asia. Shariah-compliant assets have gained the attention of international investors after proving themselves relatively resilient after the 2008 global financial crisis erupted.

Originally geared towards institutional investrs, the DSAM Kauthar Funds will be revised to accommodate individual clients, most of whom are clients of Mondial. Mondial, an investment advisory firm, serves over 8,000 retail clients with over $1 billion in assets. DSAM's transformation to a retail-focused business model will be accompanied by the addition of a senior takaful industry veteran to its staff and more initiatives with firms like Mondial.

The first two funds available to investors will be the DSAM Kauthar Gold and the DSAM Kauthar Energy funds.