IFR 6.11.5 Guidance

Past version: effective from 01/03/2010 - 10/07/2010
To view other versions open the versions tab on the right

As there are no specific risks that arise by virtue of a Fund being an Islamic Fund, the prudential requirements that apply to a Category 3 firm as set out in PIB module apply to such Operators. However, if the underlying assets of the Fund are invested in financial products or instruments that are Islamic and have certain features which would raise any prudential risks, it is the responsibility of the Operator to address such risks. The DFSA would provide any additional clarifications regarding such matters upon request.

Derived from DFSA RM69/2010 (Made 1st March 2010). [VER1/03-10]