Sep 28 2011
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Malawi creates first Islamic pension fund
Speaking to The Islamic Globe acting MD Emmanuel Saruchera said VLA's Mudaraba Equishare Fund has been created as a result of the Malawi Pensions Act, introduced in June this year that has made the universal holding of a pension fund mandatory.
The fund will invest in conventional investment vehicles that do not compromise Shari'ah stipulations.
Saruchera said the fund will be officially launched in December but has already received a high volume of interest from prospective clients nationwide.
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