Addendum Announcement from Osool & Bakheet Investment Company Regarding the payment of Zakat from Al-Maather REIT Fund
Wednesday, March 18, 2020 at 4:30 PM
Further to the announcement by Osool & Bakheet Investment Company which was published on 09 March 2020, Osool & Bakheet Investment Company announces the completion of the registration of AL Ma’ather REIT Fund with the General Authority for Zakat and Income for the purpose of payment the fund zakat for the year 2019. It should be noted that the annual Zakat expense will be paid by the Fund starting from 2019. Accordingly, the Zakat clauses in the Fund's terms and conditions have been updated. Except for these changes, the Fund Manager asserts that there has been no fundamental change from the previous announcement.
A copy of the updated Terms and Conditions can be obtained from the attachment below.