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Dubai Financial Services Authority (DFSA): Contents

Dubai Financial Services Authority (DFSA)
Laws
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
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Financial Markets Tribunal
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PIB 1.1.2 Guidance



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 effect of PIB Rule 1.1.1(1) is that these RulesG apply to all Authorised FirmsG , except those carrying on Insurance BusinessG (that is, InsurersG ), that operate a Representative OfficeG and those that are CRAs. Those Authorised FirmsG that are authorised to effect or carry out Contracts of InsuranceG should refer to the PING module. Authorised FirmsG that are authorised to Operate a Representative OfficeG should refer to the REP module.
2. These RulesG apply both to Domestic FirmsG and, to the extent specified in PIB Rule 1.1.2, to Authorised FirmsG conducting Financial ServicesG through a BranchG in the DIFCG .
3. The RulesG in PIBG reinforce the fitness and propriety requirements found in GEN chapter 5 - Management Systems and PrincipleG 4 for Authorised FirmsG . The PIBG module is set out in:
a. an initial chapter establishing a categorisation of firms for the application of PIBG ;
b. two general chapters setting overall requirements: General Requirements and Capital;
c. six chapters setting specific requirements relating to the following particular risks or issues: Credit RiskG , Market RiskG , Operational RiskG , Interest Rate RiskG in the Non-Trading BookG , Group RiskG and Liquidity RiskG ;
d. a chapter imposing processes for supervisory assessment, by which an Authorised FirmG which is a Domestic FirmG in CategoryG 1, 2 or 5 has obligations to establish and conduct an IRAPG and an ICAAPG , and to provide documented assessments to the DFSAG ; and
e. a final chapter imposing public disclosure requirements.

Domestic FirmsG

4. To assist Authorised FirmsG that are Domestic FirmsG there is a table "Application Table B" which sets out in general the application of the provisions in this module to different CategoriesG of Authorised FirmsG . This table is for GuidanceG purposes only. The RulesG in this module apply to Authorised FirmsG in accordance with this Chapter and as specified in RulesG elsewhere in this module.
5. With regards to Authorised FirmsG carrying on Islamic Financial BusinessG , there are additional matters that should be included in their report to the DFSAG which are in the Islamic Finance RulesG (IFRG ) module (see IFR section 5.4 of IFRG module).

APPLICATION TABLE A FOR AUTHORISED FIRMSG THAT OPERATE AS A BRANCH IN THE DIFCG

PIB Chapters CategoryG 1 CategoryG 2 CategoryG 3A CategoryG 3B CategoryG 3C CategoryG 4 CategoryG 5
PIB Chapter 1: Application, Interpretation and Categorisation Whole Chapter Whole Chapter Whole Chapter Whole Chapter Whole Chapter Whole Chapter Whole Chapter
PIB Chapter 2: General Requirements Whole Chapter Whole Chapter Whole Chapter Whole Chapter Whole Chapter Whole Chapter Whole Chapter
PIB Chapter 3: Capital Only PIB Rule 3.2.4 Only PIB Rule 3.2.4 Only PIB Rule 3.2.4 Only PIB Rule 3.2.4 Only PIB Rule 3.2.4 Only PIB Rule 3.2.4 Only PIB Rule 3.2.4
PIB Chapter 4: Credit RiskG Only sections PIB 4.1 to PIB 4.4 and Rules PIB 4.5.1 to PIB 4.5.7 and PIB 4.5.9 Only sections PIB 4.1 to PIB 4.4 and Rules PIB 4.5.1 to PIB 4.5.7 and PIB 4.5.9 Only sections PIB 4.1 to PIB 4.4 and Rules PIB 4.5.1 to PIB 4.5.7 and PIB 4.5.9       Only sections PIB 4.1 to PIB 4.4 and Rules PIB 4.5.1 to PIB 4.5.7 and PIB 4.5.9
PIB Chapter 5: Market RiskG Only sections PIB 5.1 and PIB 5.2 Only sections PIB 5.1 and PIB 5.2 Only sections PIB 5.1 and PIB 5.2       Only sections PIB 5.1 and PIB 5.2
PIB Chapter 6: Operational RiskG Whole Chapter, except sections PIB 6.11 and PIB 6.12 Whole Chapter, except sections PIB 6.11 and PIB 6.12 Whole Chapter, except sections PIB 6.11 and PIB 6.12 Whole Chapter, except sections PIB 6.10 and PIB 6.11 Whole Chapter, except sections PIB 6.10 and PIB 6.11 Whole Chapter, except sections PIB 6.10 and PIB 6.11 Whole Chapter, except sections PIB 6.11 and PIB 6.12
PIB Chapter 7: Interest Rate RiskG In the Non-Trading BookG Whole Chapter Whole Chapter          
PIB Chapter 8: Group RiskG Only sections PIB 8.1, PIB 8.2 and PIB 8.5 Only sections PIB 8.1, PIB 8.2 and PIB 8.5 Only sections PIB 8.1 and PIB 8.5 Only sections PIB 8.1 and PIB 8.5 Only sections PIB 8.1 and PIB 8.5 Only sections PIB 8.1 and PIB 8.5 Only sections PIB 8.1, PIB 8.2 and PIB 8.5
PIB Chapter 9: Liquidity RiskG Whole Chapter, except PIB Rules 9.2.2(3), 9.3.12 and 9.3.13 Only PIB Rule 9.2.2(3)         Whole Chapter, except PIB Rules 9.2.2(3), 9.3.12 and 9.3.13
PIB Chapter 10: Supervisory Review and Evaluation ProcessesG              
PIB Chapter 11: Disclosure Requirements              

APPLICATION TABLE B FOR AUTHORISED FIRMSG THAT OPERATE AS A DOMESTIC FIRM

PIB Chapters CategoryG 1 CategoryG 2 CategoryG 3A CategoryG 3B CategoryG 3C CategoryG 4 CategoryG 5
PIB Chapter 1: Application, Interpretation and Categorisation Whole Chapter Whole Chapter Whole Chapter Whole Chapter Whole Chapter Whole Chapter Whole Chapter
PIB Chapter 2: General Requirements Whole Chapter Whole Chapter Whole Chapter Whole Chapter Whole Chapter Whole Chapter Whole Chapter
PIB Chapter 3: Capital Whole Chapter, except Rules PIB 3.2.4 and PIB 3.2.6, and sections PIB 3.4, PIB 3.5 and PIB 3.7 Whole Chapter, except Rules PIB 3.2.4 and PIB 3.2.6, and sections PIB 3.3 and PIB 3.5 Whole Chapter, except Rules PIB 3.2.4 and PIB 3.2.6, except sections PIB 3.3, PIB 3.5, PIB 3.9, PIB 3.9A, PIB 3.9B, 3.9C and PIB 3.18 Whole Chapter, except Rules PIB 3.2.4 and PIB 3.2.7, and sections PIB 3.3, PIB 3.4, PIB 3.8, PIB 3.9, PIB 3.9A, PIB 3.9B, 3.9C and PIB 3.18 Whole Chapter, except Rules PIB 3.2.4 and PIB 3.2.7, and sections PIB 3.3, PIB 3.4, PIB 3.8, PIB 3.9, PIB 3.9A, PIB 3.9B, 3.9C and PIB 3.18 Whole Chapter, except Rules PIB 3.2.4 and PIB 3.2.7, and sections PIB 3.3, PIB 3.4, PIB 3.8, PIB 3.9, PIB 3.9A, PIB 3.9B, 3.9C and PIB 3.18 Whole Chapter, except Rules PIB 3.2.4 and PIB 3.2.6, and sections PIB 3.4, PIB 3.5 and PIB 3.7
PIB Chapter 4: Credit RiskG Whole Chapter Whole Chapter Whole Chapter       Whole Chapter
PIB Chapter 5: Market RiskG Whole Chapter Whole Chapter Only sections PIB 5.1, PIB 5.2 and PIB 5.6       Whole Chapter, except PIB section 5.4
PIB Chapter 6: Operational RiskG Whole Chapter, except PIB section 6.12 Whole Chapter, except PIB section 6.12 Whole Chapter, except PIB section 6.12 Whole Chapter, except sections PIB 6.10 and PIB 6.11 Whole Chapter, except sections PIB 6.10 and PIB 6.11 Whole Chapter, except sections PIB 6.10 and PIB 6.11 Whole Chapter, except PIB section 6.12
PIB Chapter 7: Interest Rate RiskG In the Non-Trading BookG Whole Chapter Whole Chapter          
PIB Chapter 8: Group RiskG Whole Chapter Whole Chapter Only sections PIB 8.1 and PIB 8.5 Only sections PIB 8.1 and PIB 8.5 Only sections PIB 8.1 and PIB 8.5 Only sections PIB 8.1 and PIB 8.5 Whole Chapter
PIB Chapter 9: Liquidity RiskG Whole Chapter, except PIB Rule 9.2.2(3) Only PIB Rule 9.2.2 (3).         Whole Chapter, except PIB Rule 9.2.2(3)
PIB Chapter 10: Supervisory Review and Evaluation ProcessesG Whole Chapter Whole Chapter Whole Chapter Whole Chapter, except sections PIB 10.4 and PIB 10.6 Whole Chapter, except sections PIB 10.4 and PIB 10.6   Whole Chapter
PIB Chapter 11: Disclosure Requirements Whole Chapter Whole Chapter         Whole Chapter
Derived from RM111/2012 (Made 15th October 2012). [VER20/12-12]
[Amended] DFSA RM209/2017 (Made 25th October 2017). [VER30/01-18]