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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
Archive

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  Versions
(1 version)
 
Dec 9 2012 onwards

PIB 4.4.2



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 Authorised FirmG must implement and maintain a Credit RiskG policy which prescribes all the essential elements of the Credit RiskG management system and associated processes.
(2) The policy must be:
(a) documented;
(b) approved by the Governing BodyG ; and
(c) regularly reviewed and updated by the Authorised FirmG at periodic intervals and at least annually, as appropriate to the firm's current financial performance, credit market conditions in its main markets and its Capital ResourcesG position as well the firm's nature, scale and complexity of its activities.
(3) Any changes to the Credit RiskG policy and how exceptions to the policy will be dealt with must be approved by the Governing BodyG or an appropriately delegated committee of senior management (such as a credit committee).
(4) An Authorised FirmG with one or more branches outside the DIFCG must implement and maintain Credit RiskG policies adapted to each local market and its regulatory conditions.
Derived from RM111/2012 (Made 15th October 2012). [VER20/12-12]