IFR 6.1.2 IFR 6.1.2(1) The
Fund Managerof a Fundmust establish and maintain systems and controls which ensure that its management of the Fundand the Fund Propertyis Shari'a compliant.(2) A Fund Managermay, where it is practicable to do so, include the systems and controls required under (1) within those it is required to establish and maintain pursuant to IFR Rule 3.3.1.
IFR 6.1.2 Guidance1. Article 38 of the Collective Investment Law 2010 requires the
Fund Managerto establish and maintain systems and controls, including, but not limited, to financial and risk controls to ensure sound management of the Fundin accordance with the Fund's Constitutionand its most recent Prospectus, taking due account of the nature, scale and complexity of the Fund'sinvestments and operations.2. IFR Rule 3.3.1 requires a Fund Managerof Islamic Fundsto establish and maintain systems and controls to ensure its Shari'a compliance.[Added] DFSA RM72/2010 (Made 11th July 2010). [VER2/07-10]