Regulatory Alerts2008-02-06
Guidelines on Islamic Fund Management
The Securities Commission of Malaysia issued these guidelines under the Capital Markets and Services Act 2007 to regulate Islamic fund managers and those operating Islamic fund management windows. The document mandates the appointment of qualified Shariah advisers, requires strict adherence to Shariah-compliant investment and risk management practices, and establishes specific compliance and internal audit responsibilities. It further outlines operational requirements such as employee competency, segregation of accounts for window operators, and mandatory written disclosures regarding Shariah compliance.
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