Profit Sharing Investment Account (PSIA)

An account or portfolio managed:

(a) in relation to property of any kind, including the currency of any country or territory, held for or within the account or portfolio;
(b) in accordance with Shari'a and held out as such; and
(c) under the term of an agreement whereby:
(i) the investor agrees to share any profit with the manager of the account or portfolio in accordance with a predetermined specified percentage or ratio; and
(ii) the investor agrees that he alone will bear any losses in the absence of negligence or breach of contract on the part of the manager.
Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]
[Amended] DFSA RM56/2008 (Made 1st July 2008). [VER17/07-08]