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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

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(3 versions)

IFR 6.7.1

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) An Islamic FundG which is a Public FundG may invest in UnitsG of another FundG only where the Fund ManagerG has taken reasonable care to determine that:
(a) the other FundG is the subject of an independent annual audit conducted in accordance with relevant IFRS or other standards as applicable;
(b) the other FundG has mechanisms in place to enable UnitholdersG to redeem their UnitsG within a reasonable time; and
(c) the other FundG is prohibited from having more than 20% of its value in the UnitsG of FundsG .
(2) The Fund ManagerG must also have ascertained that there is a proper and disclosed basis for asset valuation and the pricing before investing in UnitsG in the other FundG .
Derived from DFSA RM69/2010 (Made 1st March 2010). [VER1/03-10]
[Amended] DFSA RM72/2010 (Made 11th July 2010). [VER2/07-10]
[Amended] DFSA RM106/2012 (Made 23rd December 2012). [VER6/12-12]