RPP 2-7 RPP 2-7 Application for an Islamic Endorsement
Pursuant to Article 9 of the Law Regulating Islamic Financial Business 2004, in order to conduct Islamic Financial Business, an
Authorised Personmust have an endorsed Licenceauthorising it to conduct business either as an Islamic Financial Institutionor as an Islamic Window. Conducting Islamic Financial Businessmeans carrying on one or more Financial Servicesin accordance with Shari'a.
Authorised Personwho is granted an endorsement to operate an Islamic Windowmay conduct some of its Financial Serviceactivities in a conventional manner while conducting its Islamic Financial Businessthrough the Islamic Window.
DFSAmay grant an Islamic Endorsement only if it is satisfied that the applicant has demonstrated that it has the systems and controls in place to undertake Islamic Financial Business. In deliberating over the granting of an Islamic Endorsement, the DFSAmay consider, among other things, those matters set out in the IFRModule of DFSA'sRulebook.