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Al Salam Bank launches syariah- compliant Reit
Add BT as a preferred sourcePublished Wed, Mar 5, 2014 · 10:00 PM
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[MANAMA] Bahrain's Al Salam Bank has launched a listed syariah-compliant real estate investment trust (Reit) that will invest in a portfolio of Asian properties, the lender said on Tuesday.
The Reit will invest in between 15 and 35 properties and be managed by Swiss-based B&I Capital AG, with Al Salam providing seed capital for the fund. The Islamic lender did not reveal the expected size of the fund.
Al Salam said the Reit would offer a more liquid tool to invest in real estate, an asset class favoured in Islamic finance, which follows religious guidelines such as bans on tobacco, alcohol and gambling.
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