The Dubai Financial Services Authority (DFSA) has launched a series of electronic Islamic finance tailored handbooks, designed to help Firms undertaking Islamic finance activities in the Dubai International Financial Centre (DIFC).
The Islamic finance handbooks are designed to assist with the identification of the DFSA’s Rulebook requirements applicable to financial activities conducted as Islamic or Shari’a compliant.
The five tailored handbooks relate to five different types of Islamic finance activities. Each handbook contains the parts of the DFSA Rulebooks which apply to that particular area of activity namely:
• Islamic Banking;
• Islamic Investment Business, other than Operating Funds;
• Islamic Insurance;
• Islamic Insurance Intermediation and Management; and
• Operation of Islamic Funds.
The Chief Executive of the DFSA, Mr Paul Koster said: “Islamic finance has witnessed tremendous growth and as such is an important area of focus for the DFSA. We want to provide the industry with improved access to our framework of Laws and regulations which is why we have created the Islamic finance tailored handbooks. By improving our delivery of information to Firms conducting Islamic finance activities, we hope that the handbooks will help Firms access the requirements that apply to their Islamic finance activities more easily.”
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