Saudi Fransi Capital completes Bonyan REIT’s zakat calculation for FY18

Bonyan REIT Fund’s zakat calculation has been completed by external advisor and proceeds have been deposited at the General Authority of Zakat and Income Tax, according to Saudi Fransi Capital.

There is no zakat charge for 2018, while annual zakat expenses will be charged to the fund's assets as of 2019, the fund manager added in a bourse statement.

Last month, Saudi Fransi Capital said Bonyan REIT’s board of directors decided to commence the procedures of registering the fund with the General Authority for Zakat and Income for Zakat purposes, in accordance with the relevant procedures and regulations.