BNP Paribas Asset Management will launch a suite of fixed income products, compliant with Islamic law, according Vincent Camerlynck, global head of business development at the firm.

Mr Camerlynck told Thomson Investment Management News that the products should be launched by the end of the year.

The new Islamic fixed income products will be developed by BNP Paribas and distributed by both its partners and the bank's distribution network.

The move follows the announcement of a partnership between the French fund manager and Saudi Investment Bank, although the Saudi partnership was not developed specifically for the distribution of Shariah products, according to Mr Camerlynck.

BNP Paribas Asset Management is also looking for a partnership in Russia to reinforce its emerging market offerings, although it has ruled out acquisitions in the country.