29.06.2012 - Kenya: Draft law paves way for Islamic Reits funds
The draft Reit regulations 2012 published by the Capital Markets Authority (CMA) allow for creation of Shariah-compliant Reit products. Besides complying with requirements for development and construction Reits (D-Reits) and income investment Reits (I-Reits), proposed Islamic Reit funds will have to appoint Shariah advisers. Shariah advisers will guide Reit managers on Shariah principles applicable in Kenya and conduct Shariah-compliant assessments of the terms of Reit schemes and Reit securities...............................................Full Article: Source
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