EPF to allocate up to RM30b for Islamic fund in 2018

EPF

KUALA LUMPUR: Malaysia’s Employees Provident Fund (EPF) said on Monday it expects to allocate up to RM30 billion (USD7.43 billion) to its Islamic fund in 2018.

Earlier, the retirement savings fund announced that it will allocate RM100 billion in 2017 for the fund, which opened for registrations on Monday and will be launched in January.

The 2017 allocation is equivalent to about 15% of the EPF’s total investments of 681.71 billion ringgit as of March 2016.

The additional RM20-RM30 billion will be subject to market supply of Shariah investment products during 2018, a spokesman told Reuters.