Announcement from Osool & Bakheet Investment Company regarding the payment of Zakat from Al-Maather REIT Fund

Tuesday, March 12, 2019 at 5:11 PM

Announcement from Osool & Bakheet Investment Company regarding the payment of Zakat from Al-Maather REIT Fund

Further to the announcement of Osool & Bakheet Investment Company issued on Tuesday 12 March 2019 related to payment of Zakat from AL-Maather REIT Fund, the Fund Manager would like to clarify that the payment procedures for Zakat are still in initial stages. The Fund Board decided to make Maather REIT eligible for Zakat payment, and accordingly Fund manager is in process to communicate with Zakat advisor and the General Authority for Zakat and Tax. After determining the value of the Zakat, the Fund manager will announce the amount of Zakat to be paid by the Fund and its impact on the Fund. Zakat payment will not have an impact on the dividends value for 2018 which was announced on 05/03/2019. Meanwhile, fund manager will announce progress about this matter as it occur.