Saturday, April 20, 2024

From Saudi Arabia to the world .. RITA launches the first green real estate fund compliant with Sharia


Dr. Director of the Saudi ETFB. In an interview with Al-Arabiya, Mohammed al-Swaid confirmed that the company has been working with international organizations in the United States and London to establish a transaction-trade fund. With the principles of Sharia and the concept of green investment.

He explained that of the 195 listed funds in the world that have been dissolved in accordance with Sharia regulations and green environmental standards, the new investment fund will buy into REIT trade funds around the world.A fund and it is listed in New York. FTSE Stock market in Russell global index simulation.

He pointed out that the fund was actually listed on the New York Stock Exchange under the index RITA, which had gained more than 4.4% in the previous 10 days, and could act as a way for the investor to reflect the quality of the fund’s assets. Buy shares in 83 real estate trading funds “REIT” in 9 countries.

Al-Zawahiri described this type of competitive diversification as an option for “passive” investment, which comes with continuous performance and low operating costs, currently at a rate of 0.5% of the fund’s fees.

The director of ETFB expects the RITA fund, which is available to all investors around the world, to be easily withdrawn and reach distribution returns of 2.5% to 3% per quarter based on an annual growth rate. 11%

Al-Sweden expects RITA funds to grow by 11% to 13% in 2022 as a result of US-led REIT funds located in 9 countries.

He pointed out that this list of funds on the New York Stock Exchange this month offers an important option for investing in real estate funds subject to the principles of Islamic Sharia, social responsibility and green investment. The demand from investors around the world is increasing.

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It is noteworthy that in the fields of alcohol, firearms, music, tobacco, film and television or traditional financial services, RITA exempts eligible REITs if they earn more than 5% of their business due to Shariah-compliant “filtration” criteria. Concepts of the Green Economy.

Nadia Barnett
Nadia Barnett
"Award-winning beer geek. Extreme coffeeaholic. Introvert. Avid travel specialist. Hipster-friendly communicator."

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