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PIN A7.3.4

Owners' Equity in a Takaful Insurer, that has not been transferred to the Insurance Fund, 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, the owners do not participate in the surpluses and losses of Insurance Business; and
(b) the Owners' Equity is available for loan to the Insurance Fund maintained within the Long-Term Insurance Fund of the Insurer.

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