Malaysia pension fund to start RM100b Islamic savings plan
Employees Provident Fund expects a quarter of its 6.7 million members to migrate to a Syariah-compliant plan
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Kuala Lumpur
MALAYSIA'S biggest pension fund expects almost a quarter of its members will migrate to an Islamic retirement plan in its first year alone.
The Employees Provident Fund (EPF), a state-owned vehicle that manages US$178 billion of assets including London's Battersea Power Station project, aims to open the Syariah-compliant plan in January 2017 and is targeting an initial size of as much as RM100 billion (S$34.6 billion), chief executive officer Shahril Ridza Ridzuan said in Kuala Lumpur.
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