YB Group acquires Interloop Asset Management

MG News | December 16, 2024 at 11:03 AM GMT+05:00

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December 16, 2024 (MLN): In a significant development, YB Pakistan (a subsidiary of YB Group) has successfully acquired Interloop Asset Management Limited.

The company will soon rebrand as Lucky Investment Management Limited, signalling its entry as Pakistan's first Islamic Asset Management Company (AMC) led by one of the nation’s most prominent conglomerates.

Muhammad Shoaib, the founding CEO of Al Meezan Investment Management Limited, has been appointed as the CEO of Lucky Investment Management Limited.

With over two decades of experience as a trailblazer in Islamic finance, Shoaib is set to spearhead this transformative venture.

Reflecting on his journey, Shoaib shared, “Co-founding and taking on the role of CEO at another Islamic Asset Management Company (AMC) represents an exciting and pivotal chapter in my career.”

“Looking back, I take immense pride in having been the founding CEO of Al Meezan Investment, guiding it to its position as Pakistan’s largest AMC.”

Shoaib’s illustrious career also includes being the founding president of CFA Society Pakistan, where he played an instrumental role in advancing ethics, transparency, and governance in Pakistan's capital markets.

This new endeavour—leading Lucky Investment Management Limited — carries the distinction of being Pakistan’s first Islamic AMC spearheaded by one of the nation’s most esteemed conglomerates.

It is a project rooted in the vision to redefine the Islamic investment landscape in Pakistan and beyond.

Under Shoaib’s leadership, Lucky Investment Management Limited is poised to innovate and elevate Islamic investments, aiming to make them the first choice for investors.

The initiative aligns with the growing demand for ethical investment solutions and reinforces YB Group’s commitment to financial excellence.

Mr. Shoaib is confident that they will contribute to transforming Pakistan's capital markets with a commitment to innovation, excellence, and ethical practices.

The goal remains clear: to make Islamic investments the top choice for investors.

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