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RM57/2008 Islamic Finance Rules Instrument (No. 57) 2008

The DFSA has prepared a note summarising the main issues which arose in consultation on the DFSA's Key Policy Review (Consultation Papers 52, 53 and 54) and the DFSA's responses to the comments received. It has also prepared two "destination tables" to assist interested parties in locating Rules which have been relocated within the COB and CIR modules, or moved from the COB module into the CIR module. These may be accessed by the links below:

•   Key Policy Review — comments made in consultation: PDF formatPDF format
•   Appendix A — COB Destination Table: PDF formatPDF format
•   Appendix B — CIR Destination Table: PDF formatPDF format

The Board of the Dubai Financial Services Authority in the exercise of the powers conferred on them by Article 23 of the Regulatory Law 2004 and having published the rules for consultation in accordance with Article 24 of the Regulatory Law 2004, hereby make the Rules in the appendices to this instrument. The appendices to this instrument also contain the guidance made by the Chief Executive in the exercise of the powers conferred on him under the Regulatory Law 2004.

Commencement

This instrument shall come into force on the 1 July 2008.

Amendments to Rulebook Modules

(1) Glossary Module (GLO) — GLO/VER16/10-07 is amended in accordance with Appendix 1Appendix 1 to this instrument and the module as amended by this instrument may be identified by the following reference — GLO/VER17/07-08.
(2) Islamic Financial Business Module (ISF) — ISF/VER1/09-04 is amended in accordance with Appendix 2Appendix 2 to this instrument and the module as amended by this instrument may be identified by the following reference — ISF/VER2/07-08.
(3) Prudential — Investment Insurance Intermediation and Banking Business Module (PIB) — PIB/VER13/12-07 is amended in accordance with Appendix 3Appendix 3 to this instrument and the module as amended by this instrument may be identified by the following reference — PIB/VER14/07-08.
(4) Note that rule-making instrument No. 56 also implements amendments to these modules including the title of the PIB module.
(5) Note that rule-making instrument No. 58 also implements amendments to the ISF module.

Citation

(6) This instrument may be cited as the Islamic Finance Rules Instrument (No. 57) 2008.

By Order of the Board

Abdullah Saleh
Chairman

April 2008
RM 57/2008 		      David Knott
Chief Executive