Sarwa Save holds your funds as cash in USD.
Sarwa Save (Halal) offering invests your funds in low-risk assets called money market funds which consist of cash and cash-equivalent securities. These vehicles are very liquid and low risk. The current fund used is Emirates Islamic MMF as detailed below:
Ticker: EMISMAA → 100% allocation
Asset name: Emirates Islamic MMF
Description: To generate returns that are more attractive than traditional Sharia compliant bank deposits. The funds invested across a diversified set of Sharia compliant money market instruments.
Expense Ratio: 0.5%