The proposed amendments to REITs and ETFs with waqf, or endowment, features are meant to complement the Securities Commission (SC) initiatives to broaden the range of Islamic capital market products that support socio-economic development.

In a statement issued to the media today, the exchange said that under the proposed amendments, changes in the waqf arrangements must be disclosed in a timely manner to promote greater transparency on specific key matters.

It said the content of periodic reports would be enhanced to ensure access to meaningful and value-added information for unit holders.

“These include the requirement to disclose the breakdown of the amount to be distributed to waqf recipients and unit holders on an interim basis, the names of the waqf recipients and how investors can obtain more information on them.

Thirdly, Bursa said, the content of the distribution statement of a REIT must be enhanced to provide unit holders comprehensive insight into their entitlement. This would necessitate the inclusion of the net amount per unit recommended for distribution to unit holders and waqf recipients.

The full details on the proposed amendments are available at: https://www.bursamalaysia.com/regulation/public_consultation.

Those who wish to make recommendations or give comments should give their feedback by Nov 30.