Muscat Capital amends custodian fees for Al Mashaar REIT

Muscat Capital has amended custodian fees of Al Mashaar REIT Fund from 0.03 percent of the fund’s net assets to a fixed annual fee of SAR 175,000.

The firm said in a statement to Tadawul that the move aims to avoid any fee rise in case of an increase in the fund’s assets in the future.

The fee of Shariah committee overseeing the fund has been slashed from SAR 37,500 to SAR 18,750, the statement said.

Muscat Capital has also appointed Meethaq Islamic Banking as Shariah compliance controller for Al Mashaar REIT.