In order to ensure compliance with the Islamic REIT Guidelines, the properties under Al-Salām REIT’s portfolio of investments shall adhere to the following:
- The tenants of the properties of Al-Salām REIT (including the Subject Properties) shall operate permissible activities according to the Shariah principles and requirements;
- The rental income of Al-Salām REIT are derived from Shariah permissible activities and shall remain guided by the 20% benchmark as determined by the SC’s SAC for the criteria on rental from non-permissible activities;
- Al-Salām REIT will ensure that all forms of investment, deposit and financing instruments comply with Shariah principles and requirements;
- The Manager will obtain and maintain Takaful scheme coverage on the assets of Al-Salām REIT (including the Subject Properties) against fire and public liability, which are statutory takaful requirements as well as loss of rental coverage. Only if the takaful schemes are unable to provide the coverage, Al-Salām REIT is permitted to use conventional insurance schemes; and
- Any other requirements as stipulated under the Guidelines.