Regulatory Alerts2020-01-17 | https://aifc.kz/legal-framework/islamic-finance-rules/AIFC Islamic Finance Rules (IFR)
The Astana International Financial Centre Authority issued the Islamic Finance Rules to establish a regulatory framework for entities conducting Shari’ah-compliant financial business. The rules mandate that authorized firms operate either as Islamic Financial Institutions or Islamic Windows, requiring strict adherence to Shari’ah governance, internal controls, and disclosure obligations. Key provisions include the compulsory appointment of a competent Shari’ah Supervisory Board and specific requirements for Islamic investment funds and securities offerings.
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