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A state pension fund that caters for county and parastatal employees has received regulatory approval to tap into Islamic finance through sharia-compliant products.
LapFund, a defined contribution scheme with a membership of 34,000 people mostly drawn from the Government, and with a net value of Sh30 billion, has received a licence from the Retirement Benefits Authority (RBA) to roll out a sharia-compliant scheme, LapFund Amal.
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