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Dubai Financial Services Authority (DFSA): Contents

Dubai Financial Services Authority (DFSA)
Rulebook Modules
Prudential — Investment, Insurance Intermediation and Banking Module (PIB) [VER33/02-19]
Sourcebook Modules
Consultation Papers
Policy Statements
DFSA Codes of Practice
Amendments to Legislation
Media Releases
Financial Markets Tribunal

Whole SectionText only Print Print Manager Link

(1 version)
Dec 9 2012 onwards

PIB 4.4.4

Whole Section PDF

The definitive version of DFSA handbook text is the PDF version as that is the text of the instrument as made and published by the DFSA.

To view past versions of this module in PDF format, please visit the Archive.

In relation to conflicts of interest and Related PersonG transactions, the policy must:

(a) set out adequate procedures for handling conflicts of interest relating to the provision and management of credit, including measures to prevent any PersonG directly or indirectly benefiting from the credit being part of the process of granting or managing the credit;
(b) subject to PIB Rule 4.4.5, prohibit ExposuresG to Related PersonsG on terms that are more favourable than those available to PersonsG who are not Related PersonsG ; and
(c) if ExposuresG to Related PersonsG are allowed on terms which are no more favourable than those available to PersonsG who are not Related PersonsG , set out procedures that:
(i) require such ExposuresG , and any write-off of such ExposuresG , exceeding specific amounts or otherwise posing special risks to the Authorised FirmG , to be made subject to the prior written approval of the firm's Governing BodyG or the Governing Body'sG delegate; and
(ii) exclude PersonsG directly or indirectly benefiting from the grant or write off of such ExposuresG being part of the approval process.
Derived from RM111/2012 (Made 15th October 2012). [VER20/12-12]