STANLIB Sharia handover to Gift of the Givers

STANLIB recently donated an amount of R200 000.00 to Gift of the Givers on behalf investors in the STANLIB Shari’ah Equity Fund. As part of STANLIB’s focus on developing education in South Africa, the full amount will be used in the improvement of various schools managed by Gift of the Givers.

The projects which will benefit are:

• Adelaide Tambo School for the physically challenged: R100,000.00 would be used to erect one of three classrooms
  at the school.
  
  
• Early Childhood Development Centre, Leandra: R75,000.00 would be used in the upgrading of the existing school structure.
  
  
• Early Childhood Development Centre, Kwatema: R25,000 would be used for a much needed container at the school.

Musilms are not permitted to benefit from interest income. As such, investors in the STANLIB Shari’ah Equity Fund have elected to donate any interest income received by the fund to charitable projects vetted and approved by STANLIB’s CSI committee.

Investors in the fund should note that even though they are not permitted to benefit from interest income, it is their investment and participation in the fund which made the donation possible.