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  • IFR 6.12 IFR 6.12 Islamic Money Market Funds

    • IFR 6.12.1 IFR 6.12.1

      CIR Rules 13.8.1(2) and (3) and 13.8.2 apply to a Fund Manager of an Islamic Fund that is a Money Market Fund as if a reference to:

      (a) a Deposit or a Debenture includes an Islamic financial instrument or product with similar economic characteristics to a Deposit or a Debenture; and
      (b) an interest rate reset date is, in relation to an Islamic financial instrument or product, a reference to the date on which the rate of profit of return for that instrument or product is reset.
      [Added] RM160/2015 (Made 9th December 2015). [VER9/02-16]

      • IFR 6.12.1 Guidance

        A Fund Manager of an Islamic Money Market Fund must comply with the overriding obligation in CIR Rule 13.8.1 to ensure that the Fund's investment strategy is consistent with the investment objectives of a Money Market Fund as set out in CIR Rule 3.1.11. It must also comply with other applicable requirements for Money Market Funds such as the requirement to include a warning in the Fund Prospectus under CIR Rule 14.4.7.

        [Added] RM160/2015 (Made 9th December 2015). [VER9/02-16]