PIN A3.3.3

Owner's Equity in a Takaful Insurer other than amounts referred to in PIN Rule A3.3.1(c) must be classified as hybrid capital for the purposes of this section if:

(a) under the constitutional documents of the Insurer or the terms of insurance contracts or both, participation in the surpluses and losses of Takaful business is limited to the policyholders of the Insurer; and
(b) the Owners' Equity is available for loan to the Insurance Fund of the Insurer.

Derived from DFSA RM06/2004 (Made 16th September 2004). [VER1/09-04]