Dubai-based asset manager Alkhair Capital has launched an Islamic fintech fund focused on the healthcare sector.
The Alkhair Capital Healthcare Sector Fund is a Sharia-compliant, open-ended fund.
It is domiciled in the Dubai International Financial Centre (DIFC) and has a target size of US$100 million.
The asset manager has partnered with Klaim Technologies, a Dubai-based insurtech, to help identify promising use cases for the healthcare sector.
One of these cases is using artificial intelligence to speed up the processing of medical claims. According to Alkhair’s internal analysis, the UAE health sector currently has $1.2 billion worth of medical claims caught in processing.
One of the reasons for the processing hold-up is the “remarkable growth” of the region’s healthcare sector, according to Alkhair Capital Dubai CEO Naveed Aurakzai.
“We are confident that the Alkhair Healthcare Fund will play a pivotal role in addressing liquidity challenges and prolonged working capital cycles, which are currently hampering the profitability and expansion of medical facilities,” he added.
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