KARACHI – UBL Fund Managers has announced the launch of its new Shariah-compliant investment scheme, says a press release. The new scheme, UBL Islamic Cash Fund, is an Islamic Money Market Scheme that is designed for clients who have cash lying idle in a current account. By investing this money in UBL Islamic Cash Fund, clients can expect to earn a competitive return that will be calculated and announced on a daily basis. The scheme offers a unique ‘Same Day Withdrawal’ facility, whereby clients can withdraw their money from the scheme the very same day. There is no minimum holding period and no charges on investment or withdrawal.