Call for extension of tax exemption

Steady growth: Nazaruddin says the Islamic fund growth rate has actually been better than the conventional for the last three to four years.

KUALA LUMPUR: The Federation of Investment Managers Malaysia (FIMM) hopes the tax exemption on managing fees for Islamic funds is extended for another three years in Budget 2016.

Chief executive officer Nazaruddin Othman (pic) said the tax exemption had been one of the key boosters for the Islamic fund industry in Malaysia since it was granted in 2008.