Indonesia’s top Muslim clerical body launches 1 trln rupiah waqf-based fund for new office building
JAKARTA - The Indonesian Ulema Council (MUI) has launched a new waqf-based mutual fund of 1 trillion Indonesian rupiah ($70.8 million) to finance the purchase of its own new building, Lukmanul Hakim, its head of economy division told Salaam Gateway.
MUI, the country’s top Muslim clerical body, will acquire the 20-storey building that sits on 18 hectares of land in Bambu Apus, East Jakarta, from PT Asia Raya Kapital, the fund manager developing the property, according to Lukmanul.
Construction of MUI’s new building started in July and is expected to be completed by the end of 2020.
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