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Mar 1 2010 onwards

IFR 3.5.1

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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.

When an Authorised PersonG appoints a Shari'a Supervisory BoardG , it must ensure that:

(a) the Shari'a Supervisory BoardG has at least three members;
(b) the members appointed to the Shari'a Supervisory BoardG are competent to perform their functions as Shari'a Supervisory BoardG members;
(c) any appointments, dismissals or changes in respect of members of the Shari'a Supervisory BoardG are approved by the Governing BodyG of the Authorised PersonG ; and
(d) no member of the Shari'a Supervisory BoardG is a director or ControllerG of the Authorised PersonG .
Derived from DFSA RM69/2010 (Made 1st March 2010). [VER1/03-10]