Home   Browse contents   View updates   Search  
     Quick search

Dubai Financial Services Authority (DFSA): Contents

Dubai Financial Services Authority (DFSA)
Rulebook Modules
Islamic Finance Rules (IFR) [VER13/12-18]
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

(2 versions)
Mar 1 2010 - Jul 10 2010Jul 11 2010 onwards

IFR 6.2.4

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.

(1) The Islamic Financial BusinessG policy and procedures manual must provide that:
(a) a member of the Shari'a Supervisory BoardG is obliged to notify the Fund ManagerG of any conflict of interest that such member may have with respect to the FundG or the Fund ManagerG , and if appointed, or in the case of an Investment TrustG , the TrusteeG ; and
(b) the Fund ManagerG will take appropriate steps to manage any such conflict of interest so that the Islamic Financial BusinessG is carried out appropriately and in compliance with Shari'a, the interest of a UnitholderG is not adversely affected and all UnitholdersG are fairly treated and not prejudiced by any such interests.
(2) If a Fund ManagerG is unable to manage a conflict of interest as provided above, it must dismiss or replace the member as appropriate.
Derived from DFSA RM69/2010 (Made 1st March 2010). [VER1/03-10]
[Amended] DFSA RM72/2010 (Made 11th July 2010). [VER2/07-10]