Retirement Authority approves CPF to roll-out sharia-compliant fund

Counties Pensions Fund (CPF) Chief Executive Officer Hosea Kili (left)

NAIROBI, KENYA: CPF Financial Services (CPF) has received regulatory approval from the Retirements Benefits Authority (RBA) to create a Sharia-compliant pension fund.

CPF, which runs the Local Authorities Pensions Trust (Laptrust), the County Pension Fund and CPF individual Fund which caters for state officers such as governors and senators, will now be targeting Islamic pensioners who are a big chunk of employees in the counties.