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Treasury, CMA line up board to unlock Islamic funds
Reits Association of Kenya (RAK) chairman said the growth of Islamic Reits will open a new avenue for those looking for ethical and sustainable investment options.
The Capital Markets Authority (CMA) and the Treasury have started formulating a national Shariah board to guide investors on compliant products and investments and boost the issuance of Islamic bonds and Reits.
CMA Chairman Ugas Sheikh Mohamed said the demand for Islamic financial products is higher than supply, but the growth of the industry is slowed down by the absence of a centralised Shariah board.
