IFR 6.3.2 Guidance

Although the Fund Managers of Exempt Fundsand Qualified Investor Funds are not subject to the Shari'a review process required under IFR section 6.3, they would need to ensure that the Exempt Fundor Qualified Investor Fund continues to meet the Shari'a requirements, particularly for the purposes of their annual and interim reports, which are required to be prepared under CIR section 9.4. However, the manner in which they demonstrate to the Unitholders of the Fund how they achieve such compliance is a matter left to negotiation (i.e. subject to contractual terms) between the Unitholders and the Fund Manager.

[Added] DFSA RM72/2010 (Made 11th July 2010). [VER2/07-10]
[Amended] DFSA RM139/2014 (Made 21st August 2014). [VER8/06-14]