Muscat Capital, the fund manager of Al Mashaar REIT, announced the appointment of Shariyah Review Bureau (SRB) as the fund’s new Shariah advisor.
SRB is a leading Shariah advisor of investment companies in the GCC.
The appointment will not result in any additional costs for Al Mashaar REIT, the fund manager said, adding that the annual fee of SAR 18,750 will remain unchanged.
SRB will replace Meethaq Islamic Banking, the current advisor for Al Mashaar REIT.
The fund manager noted that the new appointment will be in the best interests of the fund and will not cause any impact on the fund’s financials or expenses.
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