Musharaka Capital Company announces the update of the terms and conditions of the Musharaka Murabaha and Sukuk Fund
25 December 2023
Musharaka Capital Company announces the issuance of the fund’s Board of Directors’ approval for a non-fundamental change in the Musharaka Murabaha and Sukuk Fund, and the change will take effect on 6/25/1445 AH, corresponding to 1/7/2024. The details of the non-essential change are updating the terms and conditions of the fund to comply with the executive regulations for collecting zakat issued pursuant to Ministerial Resolution No. (2216) dated 7 Rajab 1440 AH, by updating subparagraph (f) of paragraph (9) in exchange for services and commissions related to zakat and tax.