First Shari’ah-compliant movie fund raises $40 million

CPI Financial – The aim of the fund is to produce and film the story of a United Arab Emirates (UAE) hero, Hollywood style. According to the fund’s manager, Jason Marsh, funding for Antar: The Black Knight is expected to reach $85-90 million by April.

“We’ve got $40 million so far. It’s probably going to be around $85-90 million. The fund only went online about four weeks ago so in four weeks we made some fairly hefty in-roads. Around 50 per cent [of investors are] from the Middle East and 50 per cent from Europe. We are now in phases two of the funding and I expect that most of the rest of the money will come from the UAE,” said Marsh.

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