• The Tenants of the Properties are operating as specialist hospitals in the healthcare sector, which are permissible activities according to Shariah;
  • The rental income of the Al-'Aqar Healthcare REIT are derived from Shariah permissible activities, i.e currently from the operations of specialist hospitals and shall remain guided by the 20% benchmark as determined by the Security Commission of Malaysia for the criteria on rental from non-permissible activities;
  • The Al-'Aqar Healthcare REIT will not own real estate in which allthe tenants operate non-permissible activities. The current tenants are alloperators of the respective specialist hospitals;
  • The fund managers of Al-'Aqar Healthcare REIT must not accept a new tenant(s) whose activity is fully non-permissible under Shariah. In the case of tenant(s) operating in mixed activities, method of calculating the portion of rental derived from non-permissible activities from the total rental must comply with the Guidelines for Islamic REIT;
  • The Al-'Aqar Healthcare REIT will ensure all forms of investment, deposit and financing instruments comply with Shariah principles. Al-'Aqar Healthcare REIT will be raising an Islamic financing facility to finance the acquisitions of the Properties;
  • The Manager will obtain and maintain Takaful schemes insurance coverage on the assets of Al-'Aqar Healthcare REIT against fire and public liability, which are statutory insurance requirements as well as loss of rent insurance and other required insurances, if applicable. Only if the Takaful schemes are unable to provide the insurance coverage, then the Al-'Aqar Healthcare REIT is permitted to use conventional insurance schemes;
  • General compliance, where relevant, on any other requirements as stipulated under the Guidelines for Islamic REIT; and
  • The Shariah Committee Members of the Al-'Aqar Healthcare REIT has endorsed and approved the Al-'Aqar Healthcare REIT scheme to be in compliance with Shariah principles.

The Shariah Advisory Committee

DATO’ DR. HAJI NOOH BIN GADOT Chairman, Shariah Advisory Committee

Nationality: Malaysian
Age: 76
Gender: Male

Appointment Date
  • 22 June 2006
Academic and Professional Qualifications
  • Bachelor Islamic Law and Syariah Islamiah Al-Azhar University, Egypt
  • Master of Arts Asia e University
  • Doctor of Philosophy (Human Development) Universiti Tun Hussein Onn Malaysia
Working Experience

Currently, he is an Islamic Advisor to DYMM Sultan Johor and Advisor to Johor State Islamic Council. He is a member of the Johor Royal Council and Islamic Religious Council (Johor). He retired as Mufti of Johor in November 2002 and continued his service until 13 November 2008 and now remains as the Advisor to the Islamic Religious Council (Johor). He was appointed as Federal Supreme Committee of Islamic Affairs Strengthening Management on 9 August 2018. His vast experience in Islamic practise and jurisprudence, juristic methodology, hadith and its sciences and spirituality were gained throughout his services as Acting Kadi, Syarie Lawyer Islamic Affair Officer Religious Department (Prime Minister Department), Acting Assistant Examination and Registrar Religious School of Johor State and Religious Teacher of Johor State.

Other Directorship
  • Chairman of Yayasan Infaq Angkasa
  • Shariah Adviser Member, Permodalan Nasional Berhad
  • Director, Universiti Tun Hussein Onn Malaysia
  • Director, Yayasan Wakaf Anak Yatim Malaysia
  • Committee Member, Johor Islamic Council including Zakat, Wakaf, Baitulmal, Teaching Certification and Education
  • Committee Member of various companies within the JCorp Group
  • Committee Member of various councils including the Johor Royal Congregational Council, Johor Islamic Council’s Finance and Investment, Planning and Development units

PROFESOR MADYA DR. ABDUL HALIM BIN MUHAMMAD Member, Shariah Advisory Committee

Nationality: Malaysian
Age: 77
Gender: Male

Appointment Date
  • 22 June 2006
Academic and Professional Qualifications
  • Bachelor in Shariah Al-Azhar University, Egypt
  • Doctor of Philosophy (PhD) in Shariah St. Andrews, University of Scotland
Working Experience

He began his career with Universiti Kebangsaan Malaysia as the Head of Department of Quran and Sunnah, Faculty of Islamic Studies and Lecturer at Faculty of Law Universiti Kebangsaan Malaysia.

He has served as Shariah Advisor and Shariah committee member at several corporate organisation such as Tabung Haji, Bank Negara Malaysia, Dewan Bahasa dan Pustaka, Takaful Nasional and Terengganu Trust Fund as well as financial institutions namely, Bank Muamalat Malaysia Berhad, Bank Kerjasama Rakyat Malaysia Berhad, RHB Bank Berhad and Bank Pembangunan Malaysia Berhad.

Other Directorship
  • Shariah Committee Member Terengganu Trust Fund
  • Trust Fund Amanah Saham Darul Iman
  • Kelantan Ulama Council

Islamic Banking and Finance Insititute Malaysia (IBFIM)

ABOUT THE SHARIAH ADVISER
IBFIM is a registered Shariah Adviser under the Capital Market Services Act 2007 and has been providing a wide range of Shariah advisory and consultancy services for Islamic financial services industry since 2001. IBFIM is also a lifelong learning institution that specialises in technical certifications for Islamic financial services industry. As Shariah Adviser to Al-Salām REIT, IBFIM is providing necessary advice to ensure that Al-Salām REIT business is Shariah compliant. IBFIM was appointed as the Shariah Adviser for Al-Salām REIT effective 2 July 2020.

Profile of Designated Person responsible for Shariah matters relating to Al-Salām REIT
In relation to Shariah matters, the designated persons responsible for the fund investment activities under Al-Salām REIT are Mohamad Salihin Deris and Irma Namira Missnan.

Mohamad Salihin Deris is the Director, Business Advisory of IBFIM. He brings with him approximately 20 years of blended experience in Islamic finance and Shariah advisory in both roles: as a policy maker in a regulatory authority and as an industry practitioner. At IBFIM, he leads the Shariah advisory and consultancy team helping the clients to achieve a comprehensive and optimal Shariah compliance solution. Mohamad Salihin started his career with Bank Negara Malaysia's Islamic Banking & Takaful Department. He then served CIMB Islamic Bank, Hong Leong Islamic Bank and Association of Islamic Banking Institutions Malaysia (AIBIM) before joining Bank Pembangunan Malaysia Berhad (BPMB). He had gained experience in Shariah advisory, research, secretariat and review functions, developed and implemented the overall Shariah governance framework. He had involved in conversion into a fullfledged Islamic development bank initiative. Currently he is a Shariah Committee member of Affin Islamic Bank.

Mohamad Salihin holds double-degree in LLB(Hons) and LLB(Shariah)(Hons) from International Islamic University Malaysia.He also holds Associate Qualification in Islamic Finance (AQIF) and has obtained Certified Shariah Advisor (CSA) from the Association of Shariah Advisors in Islamic Finance (ASAS). He is an exco, a trainer and reviewer of contents of the Shariah certification modules for ASAS. Occasionally, he speaks in Islamic finance events on Shariah governance. He is registered with the Securities Commission Malaysia as IBFIM's designated person responsible for Shariah matters in relation to the Islamic capital market-related product and services.

Irma Namira Missnan is currently a Manager, Business Advisory of IBFIM. She brings with her approximately 9 years of experience in Islamic finance and Shariah advisory. At IBFIM, she is responsible to lead and provide relevant inputs for the Shariah advisory, consultancy and research functions with regard to Islamic banking, takaful, Islamic capital market, Islamic REITs and Islamic unit trust funds.

Irma Namira started her career as a Shariah executive in RHB Islamic Bank Berhad since 2012. Specializing in Shariah advisory,governance and management portfolios, she was then entrusted as a Section Head of the Shariah Secretariat of RHB Islamic Bank from May 2015 until March 2020 before joining IBFIM. She is experienced in the Shariah application in Islamic products and services which includes retail banking, non-retail banking and Islamic capital markets. Irma Namira graduated with Bachelor of Shariah and Laws (Hons) from Universiti Sains Islam Malaysia and obtained Certificate in Islamic Law of Banking & Finance from International Islamic University Malaysia. She is a member of Association of Shariah Advisors in Islamic Finance (ASAS). She is registered with the Securities Commission Malaysia as IBFIM's designated person responsible for Shariah matters in relation to the Islamic capital market-related product and services.