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Approved Asset

(1) A certificate of deposit with a maximum term to maturity of six months issued by and held with an Eligible Bank;
(2) a term deposit with an Eligible Bank with a remaining term to maturity of one year or less;
(3) a negotiable debt instrument, with a remaining term to maturity of five years or less, where the instrument, or issuer thereof, is Rated at least AA- by Standard & Poor's, or the equivalent by another Rating Agency;
(4) a repurchase agreement which is fully collateralised with negotiable debt instruments meeting the rating criterion in (3), and where the credit rating of the counterparty also meets the criteria; or
(5) a bond fund meeting the rating criterion in (3) and where the designated bank account for redeemed investment is the an Insurance Bank Account held by the Authorised Firm in accordance with the requirement of COB section 14.3.

Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]