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IFR 3.5.1

When an Authorised Person appoints a Shari'a Supervisory Board, it must ensure that:

(a) the Shari'a Supervisory Board has at least three members;
(b) the members appointed to the Shari'a Supervisory Board are competent to perform their functions as Shari'a Supervisory Board members;
(c) any appointments, dismissals or changes in respect of members of the Shari'a Supervisory Board are approved by the Governing Body of the Authorised Person; and
(d) no member of the Shari'a Supervisory Board is a director or Controller of the Authorised Person.
Derived from DFSA RM69/2010 (Made 1st March 2010). [VER1/03-10]