There has been a lot of misunderstanding about what the term "Sharia compliant" means. as Global REIT it has said that they are.
Sharia has been widely linked to Islam and is understood by some as an item of Islamic domination of some sort. well, I've done my research on sharia and I would like to break that down for every potential investor who cares to listen.
You see Sharia, also known as islamic jurisprudence is operated by some countries of the world such as saudi arabia some parts of the UAE, yemen and others. it's a form of compliance to a set of rules that are not necessarily mainstream, but have been stated by islamic laws. such as prohibition of interest, alcohol and many others.
How & what this means however, is subjective to the way it's used. which varies from different sectors e.g in banking where interest is prohibited.
Well, something similar is the case with sharia compliant REITs and surely applies to nullification of interest on e.g mortgage REITs but also extends to others such as prohibition of acquisition of casinos because gambling is prohibited under sharia laws and also properties such as pubs, strip clubs and beer parlours for same reasons above.
But I think the single main reason why global REIT is sharia compliant is that it increases its appeal to investors in the UAE where it primarily operates. and also other Muslim investors in other parts of the world.
There are currently very few REITs in Dubai and global trade aims to exert its dominance.
Just like the concept of islamic banking caught on fast, so also has sharia based REIT.
So there you have it, you probably have more questions and I'll gladly reply them if you drop them as a comment below.
The issue of shariah compliance strictly , should not stop you from being an early investor in the only blockchain based REIT available today. because it clearly doesn't affect your income in any way but rather even positively by allowing more investors which causes an increase in funds and obviously acquired properties.
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A Hauwa Musa Original Piece!