Introduction to DFSA's Tailored Handbooks for Islamic Finance
Step 1
Read the important information below
Step 2
Choose the tailored handbook relevant to your firm (if any)
What are Islamic Finance tailored handbooks?
DFSA's tailored handbooks for Islamic finance are designed to help firms undertaking particular Islamic financial activities to locate the requirements in the DFSA Rulebook that apply to their activities.
Before relying on a tailored handbook, you need to satisfy yourself that your firm's activities are those to which the relevant handbook applies. These are specified in the Table below.
There are 5 tailored handbooks covering:
|
Tailored Handbook |
Relevant Activities |
|
Islamic Banking |
The Financial Services of:
• Accepting DepositsG ;
• Providing CreditG ;
• Managing a Profit Sharing Investment AccountG ("PSIA"),
where such activities are carried on or held out as Islamic or Shari'a compliant. |
|
Islamic Investment Business, other than Operating Funds |
The Financial Services of:
• Dealing in Investments as PrincipalG ;
• Dealing in Investments as AgentG ;
• Arranging Credit or Deals in InvestmentsG ;
• Managing AssetsG ;
• Advising on Financial Products or CreditG ;
• Providing CustodyG ;
• Arranging CustodyG ; or
• Operating an Alternative Trading SystemG ,
where such activities are carried on or held out as Islamic or Shari'a compliant |
|
Islamic Insurance |
The Financial Services of:
• Effecting Contracts of InsuranceG ; or
• Carrying out Contracts of InsuranceG ,
where such activities are carried on or held out as Islamic or Shari'a compliant. |
|
Islamic Insurance Intermediation and Management |
The Financial Services of:
• Insurance IntermediationG ; or
• Insurance ManagementG ,
where such activities are carried on or held out as Islamic or Shari'a compliant. |
|
Operation of Islamic Funds |
The Financial Service of Operating a FundG
where the Fund is or held out as Islamic or Shari'a compliant. |
There may not be a tailored handbook covering your business. If you are undertaking or proposing to undertake financial services other than those listed below, or to engage in various types of market activity, you will need to identify the relevant provisions in the applicable Modules of the full DFSA Rulebook.
We may, however, produce additional tailored handbooks in the future.
You may need to read more than one tailored handbook if you are undertaking or proposing to undertake certain combinations of Financial Services, for example banking and insurance intermediation.
Can you rely only on the Islamic tailored handbook?
The Islamic tailored handbooks are designed to assist you in identifying the Rulebook requirements applicable to any Financial Services you carry on as Islamic or Shari'a compliant. If your firm breaches a requirement in the Rulebook because you reasonably rely on the fact that it is not in the relevant tailored handbook, we will not bring disciplinary action. However, the definitive Rulebook for legal purposes remains the full one as found at http://www.dfsa.ae/Pages/LegalFramework/Legislation.aspx.