A subsequent announcement by NCB Capital on a significant change which is the registration of AlAhli RIET Fund (1) with GAZT for Zakat purposes.
Subsequent to the announcement by NCB Capital Company which was published on 20 November 2019, NCB Capital Company announces a significant change which is the completion of the registration of Al-Ahli REIT Fund (1) with the General Authority for Zakat and Income for the purpose of Zakat. It should be noted that the annual Zakat expense will be paid by the Fund starting from 2019. Accordingly, the Zakat clauses and fees 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, or from NCB Capital’s website, or from the Fund’s website: http://alahlicapital.com/PublishedDocuments/Files/SEDCO%20TC%20DEC19.pdf