Mulkia Gulf REIT fund manager puts Zakat registration on hold

Mulkia Investment Co., the fund manager of Mulkia Gulf Real Estate REIT Fund, put on hold the fund’s registration for Zakat purposes until further notification is received from either the Capital Market Authority (CMA) or the General Authority for Zakat & Taxes (GAZT).

The fund manager appointed Messrs. Ibrahim Ahmed Al-Bassam & Co. (PKF) as the Zakat advisor to start the fund’s registration procedures with GAZT.

The fund’s terms and conditions have been updated and submitted to the CMA for its approval to proceed with the registration process.

The fund manager will announce updates in due course.

Earlier this month, Mulkia Gulf REIT Fund’s board of directors approved appointing a Zakat advisor to initiate the procedures of registering the fund with the GAZT for Zakat purpose and to submit the registration application as of the fund’s launch date, according to data available with Argaam.