AlAhli REIT Fund 1 completes registration with General Authority for Zakat and Income

The registration of AlAhli REIT Fund 1 with the General Authority for Zakat and Income for the purpose of Zakat was completed, fund manager NCB Capital said in a bourse statement on Sunday.

The annual Zakat expense will be paid by the fund starting from 2019, and the Zakat clauses and fees in the fund's terms and conditions have been updated, the statement added.

On Nov. 20, the board of directors of AlAhli REIT Fund 1 decided to commence the procedures of registering the fund with the General Authority for Zakat and Income for the purpose of Zakat, Argaam reported earlier.