Islamic Unit Trust (Micro-Saving)
Unit Trust can be defined as a collective investment scheme, which obtained money from pooling the savings from various investors who, shares same financial objectives, investment strategy and risk. Next, these funds will be allocated in a diversified portfolio of authorized investments and managed by the professional managers. The Security Commission’s Guidelines on Unit Trust set out overall regulatory framework of the unit trust such as a ‘deed’ or an agreement that should be followed by the managers, unit holders and managers. In addition, example of the authorized investments allowed by the Security Commission includes approved stocks, bonds, commercial chapters, government securities, treasury bills, foreign securities, direct business ventures, unquoted securities and so forth.
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