TANZANIA: The Alpha Halal Fund launch marks the first Shariah investment scheme in Tanzania. Operated by Alpha Capital, the fund aims to raise TZS10 billion (US$3.69 million) during its first two initial sales months – with contributions expected from local and international investors, as this fund is also offered in East African countries of Kenya and Uganda, plus southern zone nations of Mauritius and South Africa. The fund will allocate 70% of its investments to Sukuk, with the remaining 30% invested in various foreign funds for liquidity management.
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