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  • 17. Specialist Classes of Domestic Funds

    (1) The DFSA may, by Rules, prescribe the circumstances in which any type of a Domestic Fund is to be treated as a specialist class of a Domestic Fund.
    (2) Without limiting the generality of Article 17(1), the DFSA may, by Rules, prescribe:
    (a) the circumstances in which a Domestic Fund will be treated as an Islamic Fund;
    (b) the requirements applicable to such a Fund, including the appointment where appropriate of a Shari'a Supervisory Board; and
    (c) any requirements relating to a Shari'a Supervisory Board appointed to an Islamic Fund such as its formation, membership, conduct and operation.