CIR 15.1.5

The criteria prescribed for the purposes of Article 54(1)(a)(i) of the Law to enable an Authorised Firm to Offer a Unit of a Foreign Fund are as follows:

(a) the Fund is both established and operated in a Recognised Jurisdiction specified in the DFSA's Recognised Jurisdictions Notice and the Fund is a Designated Fund included in that Notice;
(b) if it is a Property Fund, the requirements in CIR Rule 15.1.7 are satisfied;
(c) if it is an Exchange Traded Fund, the requirements in CIR Rule 13.9.1 are satisfied;
(d) if it is a Venture Capital Fund, it is a Closed-ended Fund; and
(e) if it is a Credit Fund:
(i) it is a Closed-ended Fund;
(ii) it satisfies the conditions that would be necessary for it to be an Exempt Fund or Qualified Investor Fund if it was a Domestic Fund;
(iii) it has in place appropriate policies and procedures for assessing, pricing, granting, managing and acquiring credit;
(iv) it has in place an appropriate stress testing programme; and
(v) it is subject to regulatory requirements that provide an equivalent level of protection to that provided under CIR section 13.12 and CIR Rule 14.4.13.
Derived from RM72/2010 (Made 11th July 2010). [VER13/07-10]
[Amended] DFSA RM218/2018 (Made 22nd February 2018). [VER23/12-18]
[Amended] DFSA RMI279/2020 (Made 28th October 2020). [VER29/11-20]
[Amended] DFSA RMI 323/2022 (Made 27th April 2022). [VER33/06-22]