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Tuesday, 12 July 2011 08:45

On 24th June 2009 the Central Bank of Bahrain announced it had approved the first application for Real Estate Investment Trusts in Bahrain - under the Financial Trust Laws and Trust Laws of Bahrain - or Expert Collective Investment Undertaking. They must have a Sharia advisory board and are supposed to be especially conservative in choosing properties in which to invest. Islamic REITs may not invest in conventional banks and financial companies that charge interest because that's prohibited (haraam). So are hotels and resorts, gambling, adult entertainment, sale of non-halal food (including pork), and alcohol.

Last Updated on Tuesday, 12 July 2011 08:49