Regulation on Collective Investment Schemes (8000 Series)

2019 24, January :Publication of Date 2022 14, June 1.1 Version

Regulation Scheme Investment Collective – 8000 Series 1 مجموعة 8000 – النظام الخاص بهيئات الاستثمار الجماعي Contents of Table Introduction – A Part Purpose – 8101 Principles – 8102 requirements General – B Part Regulation the with Compliance – 8201 Fees – 8202 information provide to Duty – 8203 schemes investment collective of Register – 8204 and approved of Management – C Part schemes offer exempt
Part this of application and Scope – 8301
requirement Eligibility – 8302 Manager CIS the of Duties – 8303 records and books of Maintenance – 8304 accounts and report audited CIS – 8305 unitholders of Register – 8306 interest of Conflicts – 8307 practices and policies Investment – 8308 manager CIS the by CIS a in Investment – 8309 manager CIS the by Delegation – 8310 charges and Fees – 8311 the replace and remove to Authority the of Power – 8312 manager CIS document offering Scheme – 8313 offer exempt and approved of Custody – D Part schemes application and Scope – 8401 Custodian CIS of Appointment – 8402 Custodian CIS the of Duties – 8403 custody of Delegation – 8404 property scheme for Responsibility – 8405 insolvency an in Property – 8406 charges and Fees – 8407 CIS replace and remove to Authority the of Power – 8408 Custodian custodian CIS of Removal – 8409

Regulation Scheme Investment Collective – 8000 Series 2 مجموعة 8000 – النظام الخاص بهيئات الاستثمار الجماعي approved for Requirements –– E Part Lebanon in offer public for schemes
Part of Application – 8501
Authority the to Application – 8502 Authority the of powers and Process – 8503 an of fund-sub a of addition of Notification – 8504 scheme umbrella approved Authority the by Approval – 8505 approved change to Authority the of Power – 8506 status approval of Cancellation – 8507 scheme approved an in Participation – 8508 expenses and fees Permitted – 8509 gains and income of Payment – 8510 powers Investment – 8511 borrowing Permitted – 8512 exposures investment on Limits – 8513 s’issuer an in ownership of Concentration – 8514 securities schemes approved interval and ended Open – 8515 (fund-sub or (scheme Indexed – 8516 (fund-sub or (scheme market Money – 8517 (funds of fund-sub or (funds of Fund – 8518 restrictions investment of Breach – 8519 rights of Exercise – 8520 Prospectus CIS the for Requirements – 8521 changes material of Approval – 8522 of unitholders and Authority the to Notification – 8523 changes other the to outcome period offer initial of Notification – 8524 Authority approved from redemption and to Subscription – 8525 schemes ended open of redemption deferring or Limiting – 8526 schemes interval and of redemption and subscription of Suspension – 8527 schemes interval and ended open in units promotional and advertisements Securities – 8528 materials fund-sub or scheme approved an of Performance – 8529 and scheme approved of pricing and Valuation – 8530 units fund-sub requirements Audit – 8531 unitholders of Meetings – 8532 investors and unitholders to Disclosure – 8533 document information Key – 8534 accounts and report annual CIS – 8535 Termination – 8536 Authority the to Reporting – 8537

Regulation Scheme Investment Collective – 8000 Series 3 مجموعة 8000 – النظام الخاص بهيئات الاستثمار الجماعي in established schemes offer Exempt – F Part Lebanon
Part this of Application – 8601
Authority the to Notification – 8602 investors of eligibility and schemes offer Exempt – 8603 requirements scheme offer Exempt – 8604 Participation – 8605 activity market secondary on Restrictions – 8606 scheme of Termination – 8607 policy and objectives Investment – 8608 units in dealing and pricing ,Valuation – 8609 promotional and advertisements Securities – 8610 materials or (scheme foreign a in units of Offer – G Part (fund-sub
Part this of Application – 8701
offer for requirements General – 8702 offer public and approval for Requirements – 8703 Authority the of powers and Process – 8704 fundsub additional an of offer public of Notification – 8705 requirements document Offering – 8706 status scheme approved foreign to Changes – 8707 status scheme approved foreign of Cancellation – 8708 of distribution suspend to Authority of Power – 8709 schemes approved foreign of eligibility and schemes exempt Foreign – 8710 investors requirements scheme exempt Foreign – 8711 offering or prospectus to addendum Required – 8712 document Authority the by consent of Cancellation – 8713 activity market secondary on Restriction – 8714 promotional and advertisements Securities – 8715 materials Authority the to Reporting – 8716 Authority the of Powers General – H Part Authority the by Enforcement – 8801 provisions Transitional – I Part Regulation the of application of Date – 8901

Regulation Scheme Investment Collective – 8000 Series 4 مجموعة 8000 – النظام الخاص بهيئات الاستثمار الجماعي 8000 SERIES Regulation Scheme Investment Collective Introduction – A Part Purpose – 8101 the regulate to is Regulation this of purpose The– 1 management and offering ,approval ,establishment associated and schemes investment collective of requirements establish to and Lebanon in activities approved and custodians CIS ,managers CIS governing .institutions Principles – 8102 as out themselves holds or offers who person Any– 1 in scheme investment collective a in units offering collective a establishes who person any and Lebanon with comply must Lebanon in scheme investment .Regulation this a manages and offers establishes who person Any– 2 an be must Lebanon in scheme investment collective under activity that undertake to institution approved this and Regulation Registrations and Licensing the .(manager CIS (Regulation as out themselves holds or offers who person Any– 3 collective a in investing on advice give to offering holds or offers or Lebanon in scheme investment a of units in deal to offering as out themselves be must Lebanon in scheme investment collective activity that undertake to institution approved an .Regulation Registration and Licensing the under services advising provide to granted license The collective in investing on advising includes of approval prior the ,Therefore .schemes investment such on advice offer to Authority Markets Capital the fall schemes such whether ,required not is schemes ,offer exempt or offer public of conditions the under .1foreign or domestic are they whether and an is that scheme investment collective a Only– 4 is scheme approved foreign a or scheme approved .Lebanon in offered publicly be to permitted as out himself holds or offers who person Any– 5 collective a to services custodial provide to offering be must Lebanon in established scheme investment activity that undertake to institution approved an and Regulation Registration and Licensing the under .Midclear through or Regulation this
2022. 14, June dated 83 announcement by amended was article-sub This 1
١ المعفي offer exempt، وسواء كانت منشأة في لبنان domestic أو أجنبية foreign.

Regulation Scheme Investment Collective – 8000 Series 5 مجموعة 8000 – النظام الخاص بهيئات الاستثمار الجماعي requirements General – B Part Regulation the with Compliance – 8201 be only must scheme investment collective A– 1 in Lebanon in operated and offered ,established Law and Regulation this and 161 Law with accordance .applicable when 706 in established scheme investment collective estate Real company a of form the take must Lebanon in offered be only must scheme collective foreign A– 2 this and 161 Law 706, Law with accordance in Lebanon .Regulation Fees – 8202 fees annual and fees notification and application The– 1 investment collective by Authority the to payable the by prescribed be shall Lebanon in offered schemes .Authority information provide to Duty – 8203 collective a of custodian CIS and manager CIS The– 1 deal must Lebanon in established scheme investment open an in scheme the to relation in Authority the with any Authority the to disclose and way cooperative and Authority the that scheme a to relating information responsibilities its out carry to order in know to needs .manner complete and accurate ,timely a in collective a of custodian CIS and manager CIS The– 2 any and ,Lebanon in established scheme investment must ,activities delegated have they which to entity the other each to disclose accurately and promptly obligations that ensure to necessary information this 706, Law under scheme a in unitholders to of prospectus CIS and statute CIS the and Regulation .fulfilled properly are scheme the schemes investment collective of Register – 8204 collective all of register a maintain shall Authority The– 1 register The .Lebanon in offered schemes investment fund-sub and scheme each of name the include shall to decides Authority the as information such and .time to time from include approved of names of list a publish shall Authority The– 2 foreign approved and funds-sub and schemes .website its on funds-sub and schemes

Regulation Scheme Investment Collective – 8000 Series 6 مجموعة 8000 – النظام الخاص بهيئات الاستثمار الجماعي . ً and approved of Management – C Part schemes offer exempt
Part this of application and Scope – 8301
exempt and schemes approved to applies Part This– 1 .law Lebanese under created schemes offer requirement Eligibility – 8302 Authority the by licensed institution approved an Only– 1 collective managing of activity the out carry to and establish to permitted is schemes investment .Lebanon in scheme investment collective a manage requirement Eligibility – 8303 benefit the for act times all at must manager CIS The– 1 scheme investment collective the and unitholders of Regulation this 706, Law with accordance in whole a as document offering and document constituting the and .scheme the of ,fairly ,honestly act must manager CIS The– 2 .independently and professionally ,offering the for responsible is manager CIS The– 3 collective the of operation and management .scheme investment preparation the for responsible is manager CIS The– 4 and document constituting s’scheme a of content and .document offering of compliance the for responsible is manager CIS The– 5 Law 706, Law with scheme investment collective the and document constituting the ,Regulation this 161, other any and scheme the of document offering the Authority the of requirement or Regulation applicable by activity any of delegation The .law Lebanese and any in not must entity another to manager CIS the responsibilities s’manager CIS the change or limit way .Regulation this under offering or document constituting a in provision Any– 6 change or reduce ,limit to seeks that document this under manager CIS the of responsibility any .void and null is Regulation to responsible financially is manager CIS The– 7 fund-sub or scheme a in losses for unitholders manager CIS the of omissions or errors from resulting .to activity an delegated has it entity any or in custodian CIS the instruct must manager CIS The– 8 scheme to attaching rights of exercise the on writing .property the of calculation that ensure must manager CIS The– 9 is fund-sub or scheme a of unit per value asset net each on that and basis consistent a on undertaken of unitholders outgoing and ongoing ,incoming day .equally treated are schemes interval and ended open

Regulation Scheme Investment Collective – 8000 Series 7 مجموعة 8000 – النظام الخاص بهيئات الاستثمار الجماعي records and books of Maintenance – 8304 units all of records maintain must manager CIS The– 1 fund-sub and scheme each for cancelled and created to up and accurate ,complete a maintain must and .units outstanding all of record date accurate maintain and create must manager CIS The– 2 investment collective each for records date to up and the enable to necessary are as fund-sub and scheme and 161 Law 706, Law with comply to manager CIS and document constituting the and Regulation this and fund-sub and scheme the of document offering and regulation or law Lebanese applicable other any for acts it that scheme the and it that demonstrate to .(records CIS (compliance in are manager CIS the by kept be to required records The– 3 Authority the to accessible and retrievable be must be must It .Regulation this of purposes the for other or corrections any identify easily to possible prior contents their and ,records the to amendments be not must it and ,amendments or corrections such to manipulated otherwise be to records the for possible minimum a for kept be must records Such .altered or .years ten of accounts and report audited CIS – 8305 financial annual prepare must manager CIS The– 1 and fund-sub a for and scheme a for statements of member a by audited are statements the ensure in Accountants Public Certified of Association the audit to Authority the to acceptable is that Lebanon statements financial the and institutions approved applicable with accordance in prepared be must .standards must accounts and report annual CIS audited The– 2 two by signed and manager CIS the by approved be .manager CIS the of directors year calendar the cover must statement financial The– 3 statement financial the of copy a and December 31 to with filed be must accounts and report annual CIS and sent and year next the of March 31 by Authority the of December 31 at as scheme the in unitholders all to .year reporting the must accounts and report annual CIS audited The– 4 of position financial the of view fair and true a give relevant where and scheme investment collective a and period accounting annual each for fund-sub each :contain must and custodian CIS and manager CIS the from Reports .i on reporting and duties their summarizing auditor and; these of fulfilment their liabilities and assets of statement or sheet balance A .ii the of commitments sheet balance off any and and; scheme profit detailed a including return total of statement A .iii and; period the for scheme the of account loss and

Regulation Scheme Investment Collective – 8000 Series 8 مجموعة 8000 – النظام الخاص بهيئات الاستثمار الجماعي and ; period the in activities the on report A .iv a ,scheme interval or scheme ended open an For .v and; assets’ holders of movement of statement this by prescribed be may that information other Any .vi and; Regulation unitholders enables that information significant Any .vii activities the on judgement informed an make to collective the of performance and investments and .fund-sub or scheme investment unitholders of Register – 8306 of register a establish must manager CIS The– 1 is it ensure and Lebanon in it maintain and fundsub or scheme the of) register CIS the (unitholders .date to up and accurate be must scheme ended closed a of register CIS The– 2 securities a on listed is scheme the if Midclear by held of requirements the to subject is and exchange (5) articles-Sub .Regulation Listing the and Midclear scheme a of register CIS the to apply not do) 6 (and .Midclear at held is register whose listed is that the to as evidence conclusive the is register CIS The– 3 .register the on entered units to entitled persons following the that ensure must manager CIS The–4 :register CIS the in recorded is information and; unitholder each of address and name The .i passport or number identification national The .ii the of number registration company or number and; applicable where unitholder and; unitholder the of nationality The .iii including class unit each of units of number The .iv and; unitholder each by held units fractional for registered was unitholder the which on date The .v and; name their to standing units the .issue in class unit each of units of number The .vi the on held units transfer to entitled is unitholder A– 5 form such in transfer of instrument an by register not is transfer such but requires manager CIS the as the of requirements the with complies it unless valid .manager CIS supplied be must register CIS the from extract An– 6 ,request upon unitholder any to manager CIS the by .unitholder that for information only showing inspection for available made be must register CIS The– 7 .request on Authority the by interest of Conflicts – 8307 delegates it that entity any and manager CIS A– 1 that action any in engage not must to activity any that between interest of conflict material a involves any of interests the and entity that and manager CIS which for or manages it scheme investment collective .(3) to subject ,acts it

Regulation Scheme Investment Collective – 8000 Series 9 مجموعة 8000 – النظام الخاص بهيئات الاستثمار الجماعي any delegates it that entity any and manager CIS A– 2 involves that action any in engage not must to activity collective one between interest of conflict material a or manages it that fund-sub or scheme investment or scheme investment collective another and for acts .(3) to subject ,for acts or manages it that fund-sub an delegates it which to entity any and manager CIS A– 3 through except office its by profit not must activity this under permitted remuneration of payment the .document offering the in disclosed and Regulation any derive not must manager CIS a of associate An– 4 management or operation ,offering the from benefit in operated scheme investment collective a of or fee any than other manager CIS that by Lebanon document offering the in disclosed is that due charge .units in investment on made profit any or practices and policies Investment – 8308 a of manager CIS the of decisions investment The– 1 than other times all at must fund-sub or scheme spread prudent a provide period offer initial any during investment stated the to conform must and risk of the in out set policy investment the and objective the of document offering and document constituting .fund-sub or scheme interval an or scheme ended open an of case the In– 2 be must scheme the of investments the ,scheme redemption anticipated meet to liquid sufficiently .requests manager CIS the by CIS a in Investment – 8309 of units in invest not must scheme a of manager CIS A– 1 following the unless management its under scheme a :met are conditions in disclosed prominently and fully is intention This .i and; prospectus CIS the attaching rights the and investment the of terms The .ii than favorable more no be must acquired units the to and; unitholders other of those the vote to entitled be not must manager CIS The .iii and; hold they that units only must scheme approved an of manager CIS The .iv purchased units any and money in units for subscribe .up paid fully be must manager CIS the by Delegation – 8310 is it which for activity an delegate may manager CIS A– 1 that of remuneration The .party third a to responsible received remuneration the of out paid be must party .manager CIS the by written a in detailed be must delegation Any– 2 the states clearly that parties the between contract .contract the of terms the and payable remuneration ،ً

Regulation Scheme Investment Collective – 8000 Series 10 مجموعة 8000 – النظام الخاص بهيئات الاستثمار الجماعي 706, Law under activity regulated a of is delegation If– 3 be only may activity the Regulation this or 161 Law entity an to or institution approved an to delegated an under approval foreign equivalent an holding have shall Authority the and law foreign equivalent .equivalence such assess to discretion charges and Fees – 8311 money in whether payment other any or charge or fee A– 1 or manager CIS the to made be only must otherwise or :if fund-sub or scheme a from associates its of application of method and amount ,nature The .i is levied is it how and payment or charge ,fee that offering s’fund-sub or scheme the in disclosed clearly and; document with accordance in made is payment or charge ,fee The .ii .stated limits the within and document offering the replace and remove to Authority the of Power – 8312 manager CIS the CIS a remove to power the have shall Authority The– 1 replacement a appoint to and scheme a of manager other any take to or scheme that for manager CIS to ceases manager CIS the when necessary steps :of event the in including d articlesub 16 Article 706 Law of requirements the meet business securities on carry to ceasing manager CIS The .i ;Authority the to notification without liquidation or bankruptcy entering manager CIS The .ii ;procedures of Authority the by cancellation or suspension The .iii ;manager CIS the of license the ;license its cancel to manager CIS the by request A .iv in obligations its fulfil to failing manager CIS The .v ;way material a in Regulation this with compliance being manager CIS the remove to resolution special A .vi .scheme the of unitholders the by passed powers its exercises Authority the that case the In– 2 must replaced being manager CIS the ,)1 (under the to responsibilities of transfer smooth a facilitate must and days sixty within manager CIS replacement .manager CIS replacement the to contracts all novate must it ,)1 (to pursuant removed is manager CIS a If– 3 scheme the for decisions investment make to cease appointed is manager CIS replacement the as soon as .Authority the by required time earlier any at or ً

Regulation Scheme Investment Collective – 8000 Series 11 مجموعة 8000 – النظام الخاص بهيئات الاستثمار الجماعي document offering Scheme – 8313 :must scheme a of document offering The– 1 ;misleading not and clear ,fair Be .i and objective investment the state Clearly .ii investment the and scheme the of policy investment ;scheme the of limits leverage and borrowing and and scheme the of structure legal the state Clearly .iii ;scheme the in units of holders of rights the and policy pricing ,policy valuation the state Clearly .iv .scheme the of policy dealing

Regulation Scheme Investment Collective – 8000 Series 12 مجموعة 8000 – النظام الخاص بهيئات الاستثمار الجماعي exempt and approved of Custody – D Part schemes offer application and Scope – 8401 exempt and schemes approved to applies Part This– 1 .law Lebanese under created schemes offer Custodian CIS of Appointment – 8402 to custodian CIS a appoint must manager CIS The– 1 estate real to title and securities all custody into take held cash over control exercise and scheme a by held the to or by made payments all and scheme the by .scheme by custodian CIS the appoint must manager CIS The– 2 and clearly determine will that contract written a custodian the from required obligations the precisely .administration and safeguarding both to related institution approved an be must custodian CIS The– 3 activity this undertake to Authority the by approved .Midclear or independent functionally be must custodian CIS The– 4 .scheme the of manager CIS the of must scheme a to custodian CIS the is that entity The– 5 the of manager CIS the as entity legal same the be not .scheme Custodian CIS the of Duties – 8403 ,fairly ,honestly act must custodian CIS The– 1 best the in and independently and professionally .scheme the in unitholders of interests and scheme a of securities all holds custodian CIS The– 2 and unitholders its for beneficially estate real to title the over control exercises or holds beneficially either .scheme a by held deposits and cash be must) fund-sub or (scheme a of assets The– 3 CIS the ,manager CIS the of those from segregated and ,clients other s’custodian CIS the and custodian .(fund-sub or (scheme the of name the in held actions all taking for responsible is custodian CIS The– 4 assets the all administer and safeguard to necessary its of interests the in) fund-sub or (scheme the of .unitholders or (scheme the that monitor must custodian CIS The– 5 leverage and borrowing and investments s)’fund-sub this and applicable when 706 Law with comply .Regulation subscription the that monitor must custodian CIS The– 6 the and Regulation this with accordance in are) fundsub or (scheme the in units of redemption the and the of document offering and document constituting .(fund-sub or (scheme asset net the that ensure must custodian CIS The– 7 this with accordance in calculated is unit per value and document constituting the and Regulation .(fund-sub or (scheme the of document offering

Regulation Scheme Investment Collective – 8000 Series 13 مجموعة 8000 – النظام الخاص بهيئات الاستثمار الجماعي the to due income that ensure must custodian CIS The– 8 or (scheme the by received is) fund-sub or (scheme constituting the to according used is and) fund-sub or (scheme the of document offering and document .(fund-sub instruction written the on must custodian CIS The– 9 value and number the specifying manager CIS the of cancel and create cancelled or created be to units of create to refuse must custodian CIS The .units those action an such that opinion the of is it if units cancel or scheme that in unitholders of interests the in not is .(fund-sub or( of reconciliation a perform must custodian CIS The– 10 (property fund-sub or (property scheme of records its with) fund-sub or (scheme the in issue in units and each for monthly least at records s’manager CIS the such in discrepancies Any .)fund-sub or (scheme the to immediately reported be must reconciliation .custodian CIS the by Authority s’manager CIS the execute must custodian CIS The– 11 or (property scheme to relation in instructions this with consistent are they if) property fund-sub and document constituting the and Regulation If .)fund-sub or (scheme the of document offering reasons technical for unable is custodian CIS the are that instructions of execution prevent to constituting the or Regulation this with inconsistent or (scheme the of document offering or document CIS the require must custodian CIS the) fund-sub the of cost the at transaction the reverse to manager the reverse to fails manager CIS the If .manager CIS the ,set deadline the within requested as transaction to this of notification written give must custodian CIS .immediately Authority the up and accurate maintain must custodian CIS The– 12 as) fund-sub and (scheme each for records date to comply to custodian CIS the enable to necessary the and Regulation this and 161 Law 706, Law with the of document offering and document constituting it that demonstrate to and) fund-sub and (scheme in are for acts it that) fund-sub and (scheme the and .compliance custodian CIS the by kept be to required records The– 13 Authority the to accessible and retrievable be must be must It .Regulation this of purposes the for other or corrections any identify easily to possible prior contents their and ,records the to amendments be not must it and ,amendments or corrections such to manipulated otherwise be to records the for possible minimum a for kept be must records Such .altered or .years ten of

Regulation Scheme Investment Collective – 8000 Series 14 مجموعة 8000 – النظام الخاص بهيئات الاستثمار الجماعي custody of Delegation – 8404 assets of holding the delegate may custodian CIS The– 1 one to Lebanon outside) fund-sub or (scheme the of by judged be must who custodians-sub more or the have to and competent be to custodian CIS the .role that undertake to capacity paid be must custodian-sub any of remuneration The– 2 .custodian CIS the by received remuneration the from written a in detailed be must delegation Any– 3 the states clearly that parties the between contract .contract the of terms the and payable remuneration that entity an to delegated be only may custody-Sub– 4 regulator a by supervised and approved ,established is activity that undertake to Authority the to equivalent .contract the by covered territory or country the in must custodian-sub a to custody of Delegation– 5 assets the of ownership beneficial the that ensure is unitholders the by) fund-sub or (scheme the of to able is custodian CIS the and established clearly of safekeeping to relation in duties its fulfil properly .(fund-sub or (scheme the of assets the .scheme for Responsibility property scheme for Responsibility – 8405 to responsible financially is custodian CIS The– 1 (fund-sub or (scheme a in losses for unitholders custodian CIS the of omissions or errors from resulting activity any delegated has it which to entity any of or .responsible is it which for insolvency an in Property – 8406 must scheme investment collective a of property The– 1 as treated be ,insolvency of purposes the for ,not .associates its of any or custodian CIS the of property collective a of custodian CIS the of creditor No– 2 that in unitholder a than other scheme investment s’scheme the against claim any have shall scheme .property charges and Fees – 8407 in whether payment other any or charge or fee A– 1 CIS the to made be only must otherwise or money :if) fund-sub or (scheme a from custodian that of application of method and amount ,nature The .i clearly is levied is it how and payment or charge ,fee or (scheme the of document offering the in disclosed and); fund-sub accordance in made is payment or charge ,fee The .ii limits the within is and document offering the with .stated

Regulation Scheme Investment Collective – 8000 Series 15 مجموعة 8000 – النظام الخاص بهيئات الاستثمار الجماعي replace and remove to Authority the of Power – 8408 Custodian CIS CIS a remove to power the have shall Authority The– 1 replacement a appoint to and scheme a of custodian other any take to or scheme that for custodian CIS to ceases custodian CIS the when necessary steps :of event the in including d articlesub 16 Article 706 Law of requirements the meet securities on carry to ceasing custodian CIS The .i ;Authority the to notification without business liquidation or bankruptcy entering custodian CIS The .ii ;procedures to license the of termination or suspension The .iii ;Authority the by business securities undertake to license its cancel to custodian CIS the by request A .iv ;business securities undertake in obligations its fulfil to failing custodian CIS The .v .way material a in Regulation this with compliance provision cease not must custodian CIS a ,)1 (to Subject– 2 CIS the unless scheme a to services custodian CIS of .custodian CIS replacement a appointed has manager replacement a appoints manager CIS the or ,)1 (articlesub under powers any exercises Authority the Where– 3 custodian CIS the ,)2 (article-sub under custodian CIS of transfer smooth a facilitate must replaced being custodian CIS replacement the to responsibilities .days sixty within the ,found be cannot custodian CIS replacement a If– 4 .up wound be must scheme custodian CIS of Removal – 8409 CIS the remove may scheme a of manager CIS The– 1 in notice’ days sixty least at giving by custodian .custodian CIS the to writing a of appointment the approve must Authority The– 2 .manager CIS the by custodian CIS replacement . ً

Regulation Scheme Investment Collective – 8000 Series 16 مجموعة 8000 – النظام الخاص بهيئات الاستثمار الجماعي schemes approved for Requirements – E Part Lebanon in offer public for
Part of Application– 8501
schemes investment collective all to applies Part This– 1 .Lebanon in established offer public for Authority the to Application – 8502 collective a establish to seeking person Any– 1 must offer public for Lebanon in scheme investment approval for Authority the to application an submit .scheme that for institution approved an be must applicant The– 2 collective manage to Authority the by approved .Lebanon in schemes investment required information the contain must application The– 3

Annex in
collective the whether state must application The– 4 or Lebanon in only offered be to is scheme investment Lebanon outside territories or countries other in also or countries those name must case latter the in and .territories must Authority the by prescribed fee application The– 5 .paid be Authority the of powers and Process – 8503 within application the consider will Authority The– 1 in required information the all of receipt of weeks four .Regulation this with accordance the approval an for application an assessing In– 2 :may Authority it that investigation or enquiry ,review any out Carry .i .appropriate considers .applicant the of premises or office any Inspect .ii of representative any or ,applicant the Require .iii Authority the matter any explain to ,applicant the .application the to relevant considers additional any provide to applicant the Require .iv Authority the that documents or information .relevant considers substantiate or certify ,verify to applicant the Require .v .Authority the to provided information any application an consider to refuse may Authority The– 3 :if .incomplete is It .i the by prescribed requirements the meet not does It .ii .Authority information provide to failed has applicant The .iii provide to failed has or ,Authority the by requested .time specified a within information .paid been not has fee required The .iv ؛ ً ؛ ً

Regulation Scheme Investment Collective – 8000 Series 17 مجموعة 8000 – النظام الخاص بهيئات الاستثمار الجماعي ,application an of consideration its completing After– 4 :decisions following the of one make will Authority the .part in or whole in application the Approve .i and conditions any to subject application the Approve .ii .appropriate considers Authority the that limitations .application the Refuse .iii application an approve to decides Authority the If– 5 ,applicant the to notification written give must it the on limitations and conditions any including .Authority the by set approval it ,application an refuse to decides Authority the If– 6 .applicant the to notification written give must an of fund-sub a of addition of Notification – 8504 scheme umbrella approved approved scheme umbrella an of fund-sub a in Units– 1 publicly be to permitted not are Authority the by :unless Lebanon in offered of notice advance’ days 30 given has manager CIS The .i and; Authority the to fund-sub the of addition the the by prescribed fee the paid has applicant The .ii and; Authority written applicant the given not has Authority The .iii within fund-sub such to objection any of notification .notice s’applicant the of receipt of days 30 Authority the by Approval – 8505 the if only scheme a approve may Authority The– 1 :met are requirements following Lebanese under formed fund mutual a is scheme The .i .law are scheme the of custodian CIS the and applicant The .ii investigations other ,legal ,disciplinary to subject not on doubt cast would that nature a of proceedings or .integrity their the are scheme the of custodian CIS the and applicant The .iii liquidation or insolvency any to subject currently not creditors with arrangement any making ,proceedings .up winding compulsory a of subject the or doubt cast might that factors other no are There .iv professional or standing financial ,integrity the on or custodian CIS or applicant the of qualifications standing financial or integrity the; persons key their or controllers s’custodian CIS or s’applicant the of or applicant the of capacity the or; shareholders this of requirements the meet to custodian CIS .Regulation not is and undesirable not is scheme the of name The .v .misleading with words or’ protected ‘or’ guaranteed ‘terms the If .vi ,scheme the of name the in used are meaning similar a third a by provided is protection or guarantee the manager CIS the of independent legally is that party and authority the has that and custodian CIS the and .time any at guarantee that honor to resources ؛ ً ً؛

Regulation Scheme Investment Collective – 8000 Series 18 مجموعة 8000 – النظام الخاص بهيئات الاستثمار الجماعي the ,scheme interval or ended open an of case the In.vii a at redeemed units have to entitled are unitholders to units those of value asset net the on based price from or added be may charge subscription a which the For .deducted be may charge redemption a which complies scheme the ,article-sub this of purposes the requires statute CIS its if requirement this with sell to able is unitholder a that ensure to manager CIS is that price a at exchange securities a on units his per value asset net current the of cent per one within .unit statute CIS its ,scheme ended closed a of case the In.viii :contains securities a on listed become to commitment A– Authority the by approved Lebanon in exchange public initial its of closing the of months six within or; offering for established is scheme the that stating provision A– after years 5 than more not of time of period limited a proceeds the and up wound be will scheme the which ;unitholders to distributed provision a ,estate real in invests scheme the If– estate real in invests scheme the where that stating whose countries in only invest will it Lebanon outside than lower not rated are bonds foreign sovereign .equivalent or BBB grade investment key any and prospectus CIS ,statute CIS The .ix Regulation this with comply document information

Annex and
one least at that ,scheme umbrella an of case the In .x .established is fund-sub :scheme Islamic an of case the In .xi a’Shari are custodian CIS and manager CIS The– and; compliant of objectives investment and policy investment The– compliant a’Shari as certified been have scheme the be will and authority Lebanese appropriate an by specified as authority that by required as monitored .scheme the of statute CIS the in Public Certified of Association the of member A.xii the to acceptable is that Lebanon in Accountants provided has institutions approved audit to Authority .scheme the to auditor as act to consent written its of independence and qualification professional The.xiii be must expert estate real independent appointed the apointement such when Authority the to acceptable .necessary is approved change to Authority the of Power – 8506 status the cancel or suspend ,vary may Authority The– 1 employ or scheme investment collective a of approval Law under it to available powers other the of any of protection the for necessary is as 161 Law or 706 .manager CIS the of request the upon or investors

Regulation Scheme Investment Collective – 8000 Series 19 مجموعة 8000 – النظام الخاص بهيئات الاستثمار الجماعي approval of Cancellation – 8507 CIS a of approval the cancel may Authority The– 1 more or one of failure persistent for manager this with comply to management its under schemes .Regulation the cancel to Authority the request may manager CIS A– 2 a filing by scheme investment collective a of approval days ninety least at Authority the to request written .cancellation the of date proposed the of advance in reasons the state must approval an cancel to request A– 3 arrangements specify also must It .cancellation the for the in unitholders the of interests the protect to being is scheme a where except concerned scheme in out set as life fixed a of expiry the upon up wound .prospectus CIS s’scheme the a making manager CIS the require may Authority The– 4 :to approval an cancel to request that documents or information additional any Provide .i or ,necessary considers Authority the information any substantiate or certify ,Verify .ii .Authority the to provided may Authority the ,request the considering After– 5 :to decide or ,approval the Cancel .i pending cancellation the of date the postpone or Delay .ii .action further the ,)5 (article sub under decision a making In– 6 action any take to manager CIS a direct may Authority necessary considers Authority the that measures or approved the in unitholders of protection the for .scheme scheme approved an in Participation – 8508 are scheme approved an of conditions and terms The– 1 .scheme the of statute CIS the by established and of preparation for responsible is manager CIS The– 2 .statute CIS the of content the include ,minimum a at ,must statute CIS The– 3

Annex in required information
their signifies fund mutual a to subscriber A– 4 the by statute CIS the of terms the of acceptance .scheme a in units of purchase the in units of owner the becomes subscriber A– 5 received has account scheme the when scheme .subscriber that from units the for payment his in rights all exercise to entitled is unitholder A– 6 at vote to right the ,to limited not but ,including units .meetings general extraordinary unitholder a of liability that state must statute CIS The– 7 asset net the of amount the to limited times all at is .unit per value finite a has scheme the if state must statute CIS The– 8 .duration the ,finite if ,and life infinite or

Regulation Scheme Investment Collective – 8000 Series 20 مجموعة 8000 – النظام الخاص بهيئات الاستثمار الجماعي Islamic an is scheme the if state must statute CIS The– 9 scheme interval an ,scheme ended open an ,scheme .scheme ended closed a or statute CIS the ,scheme Islamic an is scheme the If– 10 and scheme the to authority Islamic the state must not does profit a if followed be to procedures the .Law Islamic the with comply or scheme ended open an of statute CIS The– 11 in units of fractions if specify must scheme interval or/and units income if and issued are scheme that .issued are units accumulation of classes different if specify must statute CIS The– 12 interval or scheme ended open an in issued are units umbrella ended open an of fund-sub a in or scheme statute CIS The .scheme umbrella interval or scheme :class that if class unit a specify not must holders disadvantaging class unit that in result Would .i ,scheme or fund-sub same the in classes unit other of or clearly be cannot that effect or structure a Has .ii or ,public the of member a to explained and D ,C ,B ,A Parts of any of purpose the to contrary Is .iii .Regulation this of E an of classes unit if specify must statute CIS The– 13 fund-sub or scheme interval or scheme ended open :with classes include management annual ,charges subscription Different .i these stating ,charges redemption or charges .differences is price unit the whereby classes currency Different .ii the of equivalent currency foreign the as expressed scheme the of currency base the in unit the of price payment and units of sale and purchase where and foreign same the in made is returns investment of .currency :that state must statute CIS The– 14 an of convening the request may unitholders The .i CIS the with filing by meeting general extraordinary at ,who unitholders by signed document a manager units of unitholders the as registered are ,date that so if proportion lower a or (10% least at representing issued the all of value the of) statute CIS the in stated must document The .fund-sub or scheme the of units .meeting the of objects the state and dated be must manager CIS the ,request a such of receipt On .ii meeting general extraordinary an of notification issue of receipt of days 10 within fund-sub or scheme the of .request the

Regulation Scheme Investment Collective – 8000 Series 21 مجموعة 8000 – النظام الخاص بهيئات الاستثمار الجماعي expenses and Fees – 8509 a impose may scheme a of manager CIS the Only– 1 a or units for subscription on charge subscription The .units of redemption on charge redemption of percentage a or amount stated a be may charge a and charge subscription A .unit per value asset net unit one any on levied be not must charge redemption .class unit or made be to permitted are that payments only The– 2 are) property fund-sub or (property scheme from :for those fund-sub or (property scheme in dealing of cost The .i any and commissions brokerage including) property ;costs legal associated directly ;(fund-sub or (scheme the by borrowing of cost The .ii the to payable charge management annual The .iii or (scheme the of management for manager CIS ;(fund-sub to custodian CIS the by levied expenses and fees The .iv ;(fund-sub or (scheme the scheme the to auditor the of expenses and fees The .v ;(fund-sub or( independent appointed the of expenses and fees The .vi ;any if ,expert estate real payment of ,register CIS the maintaining of cost The.vii publication of ,unitholders to returns investment of calling of and; accounts and reports annual CIS the of scheme the for meetings unitholder conducting and ;(fund-sub or( and approval the for Authority the to payable fees The.viii ;(fund-sub or (scheme the of supervision ongoing any ,)fund-sub or (scheme Islamic an of case the In .ix CIS and statute CIS the in stated as payable zakat ;prospectus .(fundsub or (scheme the by payable properly taxation Any .x or (scheme a of ratio expense operational annual The– 3 and 2 Annex in out set as calculated be must) fund-sub and accounts and report annual CIS the in disclosed of prospectus CIS and document information key the is) fund-sub or (scheme a If .)fund-sub or (scheme the and report annual CIS a have yet as not does and new expense operational annual estimated an ,accounts a with documents same the in given be shall ratio .estimate an is this that note must) fund-sub or (scheme a of manager CIS The– 4 unitholder a or subscriber a on charge any levy not a in units redeem or hold ,for subscribe they when clearly is charge that unless) fund-sub or (scheme of prospectus CIS the in disclosed prominently and .(fund-sub or (scheme the

Regulation Scheme Investment Collective – 8000 Series 22 مجموعة 8000 – النظام الخاص بهيئات الاستثمار الجماعي of costs the all pay must manager CIS The– 5 (fund-sub or (scheme a offering and establishment cost the include must that resources own its from prospectus CIS and statute CIS the of preparation of an for Authority the by required materials other and .(fund-sub or (scheme a for approval for application annual the to additional is that fee performance A– 6 scheme a to charged be only may charge management performance s’scheme that where) fund-sub or( percentage stated a by benchmark stated a exceeds annual the in reduction corresponding a is there if the of performance the if charge management .benchmark stated the than lower is scheme property scheme of out made be may payment No– 7 of cost the to relation in) property fund-sub or( .(fundsub or (scheme a in units of offering or distribution to liable not are custodian CIS a and manager CIS A– 8 profits any for scheme any in unitholders to account in or from derived or made are that benefits or .scheme the to services of supply with connection the on limits establish to right the has Authority The– 9 to applied be may that charges of levels and types .schemes gains and income of Payment – 8510 investment pay to obliged not is manager CIS The– 1 to) gains capital realized or income (returns CIS the in stated is obligation this unless unitholders .units income of issue an on prospectus must unitholders to returns investment of Payments– 2 scheme a by received income from made be only estate real or interest ,dividends from) fund-sub or( or realized either from made be not must and rental .gains capital unrealized powers Investment – 8511 in invested be only must property Scheme– 1 and statute CIS the ,Regulation this with accordance Authority The .laws applicable and prospectus CIS to necessary deemed when decision the take may the vary or apply-dis permanently or temporarily of 8514 and 8513 8512, Articles in stated percentages .regulation this the in invest only must scheme a of manager CIS The– 2 :Regulation this with accordance following ;law foreign under equivalents their or Securities .i whose ,scheme investment collective a in Units .ii of 8518 to 8511 articles with comply investments ;Regulation this ;cash and deposits Bank .iii ;applicable when estate Real .iv .ً

Regulation Scheme Investment Collective – 8000 Series 23 مجموعة 8000 – النظام الخاص بهيئات الاستثمار الجماعي value asset net the of 100% to up invest shall fundsub feeder or scheme feeder a of manager CIS The– 3 master designated a into fund-sub or scheme the of portfolio diversified a holds which fund-sub or scheme this of requirements the meets that investments of in investing fund-sub or scheme feeder A .Regulation 15% the from exempt is fund-sub or scheme master a .issuer single a in investment on limit scheme place not must scheme a of manager CIS The– 4 such unless associate an with deposit on property equivalent conditions and terms upon made is deposit related-un two between terms business standard to .parties scheme invest not must scheme a of manager CIS The– 5 its or manager CIS the by issued securities in property the by permitted specifically is this unless associates .prospectus CIS and statute CIS simultaneously not must manager CIS a of Personnel– 6 any in office other any up take or directors as serve by held are which of securities the company other with management its under scheme approved any the of directors as serve may they that exception the .members staff are they which of institution approved to property scheme lend not must manager CIS The– 7 .person any in property scheme invest not must manager CIS The– 8 ,assuming scheme the in result would that asset any becoming otherwise or ,endorsing ,guaranteeing or obligation any for liable contingently or directly .person any of indebtedness any any scheme a for acquire not must manager CIS The– 9 liability any of assumption the involves that asset .unlimited is that scheme a for acquire not must manager CIS The– 10 unless scheme investment collective another in units regulation similar to subject is that scheme offeredpublicly a or scheme approved an is scheme that Authority the by judged jurisdiction a in oversight and 706 Law to protection investor equivalent provide to .Regulation this and other of units in invest not must manager CIS The– 11 same the by operated schemes investment collective is intention this unless associates its or manager CIS .prospectus CIS its in stated prominently property scheme place only must manager CIS The– 12 by licensed bank commercial a with deposit on with bank foreign a or Lebanon of Bank Central the is issuance whose status regulatory equivalent .equivalent or BBB grade investment loans make not must scheme a of manager CIS The– 13 debt of purchase by than other scheme the from deposit or current a in money placing by or securities .account term or to permitted only is scheme a of manager CIS The– 14 the that loss potential the where security a in invest to limited is security the holding in incur may scheme .it for paid amount the

Regulation Scheme Investment Collective – 8000 Series 24 مجموعة 8000 – النظام الخاص بهيئات الاستثمار الجماعي security a sell not must scheme a of manager CIS The– 15 .own not does scheme the that into enter only must scheme a of manager CIS The– 16 on contracts forward or derivatives in transaction a hedging of purposes the for scheme that of behalf either covered be must position Each .risk currency An .scheme the by held securities by or money by .once than more used be not must cover of element the of value asset net the of 100% than more Not .hedged be must scheme associates its and scheme a of manager CIS The– 17 activities any delegates it which to entity any and their for principal as act not must associates its and of behalf on dealing when accounts or account own This .management their under schemes approved market money a to apply not does requirement net its of 15% of maximum a invests that scheme instruments market money or deposits in value asset manager CIS the is that institution approved the of .associates its and scheme approved an permit not must manager CIS A– 18 other any with principal a as deal to) fund-sub or( CIS same the by managed) fund-sub or (scheme than more holding unitholder any with or manager exception the with value asset net s’scheme a of 5% place may) fund-sub or (scheme market money a that to subject institution approved the with deposits
8513. article and above) 17 (article-sub
ability its of best the to ensure must manager CIS A– 19 approved an by acquired estate real to title that the that and saleable and law in sustainable is scheme .freehold or leasehold is estate real such in interest owned estate real any permit not must manager CIS A– 20 or by rented or to leased be to scheme approved an by its or and manager CIS the by purpose any for used .associates its and custodian CIS the or associates is estate real any before ensure shall manager CIS A– 21 appointed the that scheme approved an for purchased that valued has expert estate real independent the that ensure must manager CIS The .estate real enforceable of way by made is estate real of purchase valuation of date the of months six within contract real independent appointed the by estate real the of is estate real that for paid price that and expert estate appointed the by valuation the of 105% than more not .expert estate real independent the of 50% least at that ensure must manager CIS A– 22 occupied is property scheme constituting estate real .producing-income and in identified countries in assets in invests only) fundsub or (scheme a that ensure shall manager CIS A– 23 .(fund-sub or (scheme the of prospectus CIS the

Regulation Scheme Investment Collective – 8000 Series 25 مجموعة 8000 – النظام الخاص بهيئات الاستثمار الجماعي borrowing Permitted – 8512 an of behalf on borrow not must manager CIS The– 1 (fund-sub or (scheme interval or scheme ended open with) debentures of issue including (method any by 10% of maximum a of borrowing of exception the (fund-sub or (scheme the of value asset total the of .overdraft of way by days eighty of maximum a for only must ,over-rolled be not must borrowing Such used be not must and redemptions meet to used be investment of payment finance to or investment for .unitholders to returns a of behalf on borrow not must manager CIS The– 2 20% a than more) fund-sub or (scheme ended closed .(fund-sub or (scheme the of value asset total the of be must borrowing such of duration and nature The or (scheme the of prospectus CIS the in stated clearly .(fund-sub real in investing scheme ended closed a of case the In– 3 more not than ensure must manager CIS the estate estate real of piece one any of value the of 60% than .mortgage by secured is exposures investment on Limits – 8513 and schemes all to apply article this of provisions The– 1 scheme a were it if as scheme a of fund-sub each to :apply not do they except scheme a of period offer price fixed initial the during .i earned interest any and contributed capital all when by controlled account bank single a in held be must ;custodian CIS the approval of date the after year one of expiry the until .ii initial the of date the after year one or scheme the of .later if ,commenced offer value asset net the of 15% than more not ,time any At– 2 specific a in invested be to permitted is scheme a of deposited be to or issuer one any of securities of class :that except bank one any with in invested be may value asset net its of 35% to Up .i or securities government Lebanese of issue one any but countries -10G by issued securities government CIS the in disclosed prominently is ability this if only .prospectus asset net its of 15% to up invest only may scheme A .ii that that provided scheme other one any in value umbrella same the within fund-sub a not is scheme .scheme investing the as scheme exposure aggregate an have to permitted is scheme A .iii the to value asset net its of 20% than more not of associates its and issuer one any by issued securities its and corporate body same that of deposits and .associates net its of 100% to up invest to permitted is scheme A .iv the to subject ,securities government in value asset :requirements following ;prospectus CIS its in disclosed clearly is intention This– and

Regulation Scheme Investment Collective – 8000 Series 26 مجموعة 8000 – النظام الخاص بهيئات الاستثمار الجماعي than more invest scheme a such must time no At– such of issue one any in value asset net its of 35% .securities net its of 100% to up invest to permitted is scheme A– 3 subject ,securities government foreign in value asset :requirements following the to are securities government foreign sovereign The .i and; equivalent or BBB grade investment rated ;prospectus CIS its in disclosed clearly is intention This .ii and than more invest scheme a such must time no At .iii such of issue one any in value asset net its of 35% .securities scheme of value asset net the of 15% than more Not– 4 estate real one any in invested be must) fund-sub or( .investment s’issuer an in ownership of Concentration – 8514 securities securities acquire not must scheme a of manager CIS A– 1 general a at matter any on vote to right a carrying 15% than more represent that issuer that of meeting .securities voting its of the of level the at scheme umbrella an to applies) 1– (2 .scheme umbrella at ,if) 1 (in limit the with comply not need scheme A– 3 the of issue in amount net the ,acquisition of time the .calculated be cannot investment relevant schemes approved interval and ended Open – 8515 an and scheme ended open an of manager CIS The– 1 that of behalf on invest not must scheme interval :in scheme .transferable not are that Securities .i sufficiently cash for sold be cannot that Securities .ii compromise will that discount price a without quickly to obligation its meet to scheme the of ability the .units redeem reference by valued reliably be cannot that Securities .iii systems valuation by available made prices market to periodic to reference by or issuers of independent issuer the from information from derived valuations .research investment competent from or or accurate ,regular no is there which for Securities .iv market the to available information comprehensive ,regular no is there where or instruments those about to available information comprehensive or accurate .instruments those on manager CIS the .negotiable not are that Securities .v of capable not are that instruments market Money .vi closely very price a at and cost limited a at sold being .days 5 within value nominal their to related

Regulation Scheme Investment Collective – 8000 Series 27 مجموعة 8000 – النظام الخاص بهيئات الاستثمار الجماعي are that bonds government and corporate Foreign .vii equivalent or BBB grade investment than lower rated foreign sovereign whose countries in issued are that or BBB grade investment than lower rated are bonds .equivalent interval or scheme ended open an of manager CIS The– 2 scheme that of behalf on invest only must scheme securities a on traded or listed are that shares in securities a on or Authority the by regulated exchange exchange securities a as approved is that exchange territory or country the of authority regulatory the by The .Authority the to acceptable is and concerned requirements the to subject ,that is exception only the in policy a such of statement clear a and) 1 (of ended open an of manager CIS the ,prospectus CIS more not invest may scheme interval an or scheme in scheme that of value asset net the of 10% than securities a on traded or listed not are that shares .exchange only may scheme interval or scheme ended open An– 3 freely is that instrument market money a in invest :is instrument the of issuer the and transferable and Lebanon of Bank Central the by bank a as Licensed .i or; bank alpha an is banking whose country another in bank a as Regulated .ii to protection investor equivalent offers regulation the and Lebanon in regulation bank by offered that or; equivalent or BBB grade investment is issuance or; Lebanon of government The .iii municipal or regional or national foreign A .iv grade investment is issuance the and government or; equivalent or BBB a is Lebanon which of organization multilateral A– or BBB grade investment is issuance the and member .equivalent (fund-sub or (scheme Indexed – 8516 a invest must scheme indexed an of manager CIS A– 1 representative a in assets its of proportion substantial index specified a constituting securities of sampling index specified A .index specified a replicate must or :that index an be must article this of purposes the for a on public the by accessible and to disclosed Is .i and; basis continuous benchmark appropriate and adequate an Represents .ii clearly is ,refers it which to market securities the for .composition diversified sufficiently a has and ,defined ً

Regulation Scheme Investment Collective – 8000 Series 28 مجموعة 8000 – النظام الخاص بهيئات الاستثمار الجماعي (fund-sub or (scheme market Money – 8517 and securities debt ,cash in only invest must) fundsub or (scheme market money a of manager CIS A– 1 eligible are which deposits and transactions Mudaraba regulation this of 8515 underarticle investment for be only must transaction the to counterparty Any .)3( government Lebanese the or institution approved an bonds whose corporate or government foreign a or .equivalent or BBB grade investment rated are instrument any in capital its invest not must) fundsub or (scheme market money a of manager CIS A– 2 acquisition at maturity remaining or maturity a with the of 50% than less not and year one than more of instruments in invested be must scheme the of value acquisition at maturity remaining or maturity a with .less or days ninety of (1) with comply not does that) fund-sub or (scheme A– 3 money a as described or named be not must) 2 (and .equivalent close fund-sub or scheme market (funds of fund-sub or (funds of Fund – 8518 of fund-sub or (funds of fund a of manager CIS A– 1 asset net the of 90% least at invest must) funds collective other in) fund-sub or (scheme that of value investment for eligible are that schemes investment up and regulation this of 8517 – 8511 articles under deposits ,cash in scheme the of value the of 10% to .instruments market money and invest not must) funds of fund-sub or (funds of fund A– 2 .(funds of fund-sub or (funds of fund another in .scheme umbrella same the of fundssub other in invest not must funds of fund-sub A– 3 restrictions investment of Breach – 8519 CIS the 8518, – 8511 articles of provisions the If– 1 manager CIS the of act an to due breached are) fundsub or (scheme a of prospectus CIS the or statute management portfolio delegated it that entity any or immediately must manager CIS the ,to functions steps the out setting writing in Authority the notify deadlines the and breach the address to taken be to the to notice the copy and ,steps such completing for .custodian CIS CIS the 8518, – 8511 Articles of provisions the If– 2 (fund-sub or (scheme a of prospectus CIS or statute the outside circumstances to due breached are not has breach the and manager CIS the of control must manager CIS the ,days 15 within rectified been setting ,writing in Authority the notify immediately breach the address to taken be to steps the out and breach the of rectification for deadline the and .custodian CIS the to notification this copying

Regulation Scheme Investment Collective – 8000 Series 29 مجموعة 8000 – النظام الخاص بهيئات الاستثمار الجماعي breaches all of record a keep must custodian CIS The– 3 taken action the document must and) 2 (and) 1 (under breach the rectify to taken action of timing the and Authority the to available record this make must and immediately must custodian CIS The .request upon has) 2 (or) 1 (under breach a if Authority the notify .deadline stated the within corrected been not rights of Exercise – 8520 must) fund-sub or (scheme a of custodian CIS The– 1 actions corporate any of manager CIS the notify scheme the by held security any to relation in arising .manner complete and timely a in) fund-sub or( any exercise must scheme a of manager CIS The– 2 or (scheme the of assets any with associated rights effect this to custodian CIS the instruct or) fund-sub or scheme that in unitholders of interests best the in .fund-sub Prospectus CIS the for Requirements – 8521 responsible is scheme approved an of manager CIS The– 1 prospectus CIS the of content and preparation the for .scheme the of scheme each for prepared be must prospectus CIS A– 2 cover must ,scheme umbrella an of case the in and .scheme that of funds-sub the of each and concise ,clear be must prospectus CIS The– 3 .English or Arabic in be must and understandable information the contain must prospectus CIS The– 4 an make to unitholders potential for necessary information the including ,them to offered being) fundsub or (scheme the regarding judgement informed

Annex in required
and accurate and complete be must prospectus CIS A– 5 scheme ended open an of case the in and date to up a in annually updated be must scheme interval an or operational the on information with manner timely previous the from performance and ratio expense .change material other any for and year audited prominent a contain must prospectus CIS The– 6 the and status approved s’scheme the of statement its and scheme the to applying regime regulatory CIS the of issue the of date the and ,prospectus CIS .prospectus that state must prospectus CIS The– 7 any accept not does Authority Market Capital The“ information the of content the for responsibility the including documents offering the in included The .information such of completeness or accuracy with lies prospectus this of content the for liability Markets Capital The .scheme the of manager CIS the the of suitability the assessed not also has Authority any for documents offering the by covered securities “.investor of type or investor particular ً

Regulation Scheme Investment Collective – 8000 Series 30 مجموعة 8000 – النظام الخاص بهيئات الاستثمار الجماعي contain must scheme new a for prospectus CIS The– 8 units which during period offer initial any of details duration The .price initial the at offered be only may twenty exceed not must period offer fixed any of that during that state must prospectus CIS The .days but invested be not will monies subscription period offer fixed the of end the until deposit on held be will .period the state must scheme new a for prospectus CIS The– 9 raised be must that amount subscription minimum initial any during scheme the to subscriptions from 10 US$ than less be not must which period offer (currency another in equivalent current the or (million must monies subscription of investment no that and offer initial that of completion the until place take .period state must scheme new a for prospectus CIS The– 10 initial the in raised not is amount minimum the if that returned be must monies subscription ,period offer days five within ,due interest any plus ,subscribers to .period offer initial the of day last the from has that prospectus CIS a file must manager CIS The– 11 of days ten within Authority the with amended been .prospectus CIS the to made being changes the changes material of Approval – 8522 any of Authority the notify must manager CIS A– 1 or (scheme approved an to change material proposed to change a such propose only must and) fund-sub the to objected not has Authority the if unitholders written of receipt of days 15 within change proposed .change proposed the of notification unitholders of approval the seek must manager CIS A– 2 material a to class unit or fund-sub or scheme the in an in class unit or fund-sub or scheme a to change that of unitholders of meeting general extraordinary .class unit or fund-sub or scheme change material a ,Regulation this of purposes the For– 3 unit or fund-sub or scheme investment collective a to :means class or scheme the of nature or purposes the to change A .i or; fund-sub adverse measurable a have to likely is that change A .ii and unitholders of class a or unitholders on effect or; rights their or scheme the of profile risk the alters that change A .iii or; fund-sub of out payment of type new any of introduction The .iv or; taxation than other property scheme ,life fixed a with scheme ended closed a of case the In .v or; life that of extension above charge management annual the in increase An .vi or; prospectus CIS the in disclosed limit the exercise to ability’ unitholders affects that change A .vii or; investment their to relation in rights their

Regulation Scheme Investment Collective – 8000 Series 31 مجموعة 8000 – النظام الخاص بهيئات الاستثمار الجماعي to expected be reasonably would that change A .viii in investment their reconsider to unitholder a cause or; class unit or fund-sub or scheme the out payments increased any in results that change A .ix to property class unit or fund-sub or scheme the of or; associate an or manager CIS the fee annual of type other any increases that change A .x property class unit or fund-sub or scheme by payable stated those above 5% than more by year one any in .prospectus CIS the in unitholders advising between period the During– 4 of refusal or approval and change proposed the of CIS the to added be must addendum an ,change the and change proposed the describing prospectus .place take will vote the when identifying to subject is which change the of approval Following– 5 updated be must prospectus CIS the 8533, Article the for accounts and report annual CIS next the and and change the on information include must scheme of copies and made change the of notification written .Authority the to provided be must documents these of unitholders and Authority the to Notification – 8523 changes other written give must scheme a of manager CIS The– 1 change notifiable any of Authority the to notification of days ten within fund-sub or scheme approved an to .effect taking change the change notifiable a Regulation this of purposes the For– 2 .change material a not is that change any is notifiable any for updated be must prospectus CIS The– 3 CIS next the and review annual next the at change information contain must accounts and report annual .change notifiable the on to outcome period offer initial of Notification – 8524 Authority the completed has that scheme a of manager CIS The– 1 notification written give must period offer initial its subscription that of outcome the of Authority the to offer initial the of day last the following day next the .period approved from redemption and to Subscription – 8525 schemes must scheme approved an in unit a for Subscription– 1 .up paid fully be and money in be in units ,period offer initial the of end the Following– 2 be may scheme interval or scheme ended open an .day dealing any on purchased ended open an of units in place take only must Dealing– 3 per value asset net a if scheme interval or scheme valuation the at undertaken been has calculation unit
8530. Article in in required point
.
ً
ً
.8530

Regulation Scheme Investment Collective – 8000 Series 32 مجموعة 8000 – النظام الخاص بهيئات الاستثمار الجماعي funds-sub or schemes ended open of units in Dealing– 4 or funds-sub or schemes interval or classes unit or the at calculated price unit the at be must classes unit .order valid a of receipt following point valuation for and subscription for requests of Submission– 5 interval an or scheme ended open an for redemption received are they unless fulfilled be not must scheme valuation next the before hours two than less not be must time that after received orders any; point .point valuation following next the at fulfilled or subscription meet must manager CIS The– 6 the of provisions any to subject requests redemption
8527. and 8526 Articles and prospectus CIS
to proceeds redemption pay must manager CIS The– 7 close the than later not unitholder redeeming the valuation the following day fifth the on business of .redeemed was unit the which at point ended open of redemption deferring or Limiting – 8526 schemes interval and for request a fulfilling defer may manager CIS A– 1 of total the if day dealing next the until redemption on fulfilled be to requests redemption’ unitholders all asset net the of more or 10% is day dealing one any ability this to subject fund-sub or scheme the of value that terms with prospectus CIS the in disclosed being redemption all of treatment equitable and fair ensure .requests of deferral for procedures and requests be to deemed is requests of deferral for procedure A– 2 of proportion the to rata pro is it if equitable and fair .requested value redemption total the of redemption and subscription of Suspension – 8527 schemes interval and ended open in units must fund-sub or scheme a of manager CIS The– 1 the if units of redemption and subscription suspend definite a for either suspension such orders Authority .period indefinite an or may fund-sub or scheme a of manager CIS The– 2 fund-sub or scheme a in units of redemption suspend :circumstances following the in only and; suspended also is units of subscription the If .i that agree custodian CIS the and manager CIS the If .ii unitholders of interests best the in is suspension such or; fund-sub or scheme that in is manager CIS the control its beyond reasons to Due .iii scheme the of assets the value accurately to unable and subscription of purposes the for fund-sub or .redemption CIS the) 2 (under suspension any of case the In– 3 continues suspension any that ensure must manager the protect to necessary is it as long as for only CIS the with agreement in ,unitholders of interests .custodian ً؛

Regulation Scheme Investment Collective – 8000 Series 33 مجموعة 8000 – النظام الخاص بهيئات الاستثمار الجماعي and Authority the inform must manager CIS The– 4 subscription of suspension any of unitholders its after immediately units of redemption and and Authority the inform and commencement it after day one within resumption any of unitholders .place takes such of ending require to power the has Authority The– 5 in is so do to that believes Authority the if suspension .unitholders of interests best the promotional and advertisements Securities – 8528 materials communicated is that advertisement securities A– 1 relation in unitholders potential or unitholders to satisfy must fund-sub or scheme approved an to applicable the and Article this of requirements the Registration and Licensing the of provisions .Regulation for prospectus CIS the with consistent be must fundsub or scheme a for advertisement securities Any– 2 information include must and fund-sub or scheme the :on CIS s’fund-sub or scheme the of copy a obtain to How .i available if document information key and prospectus and; accounts and report annual CIS recent most and income the and units of value the that statement A .ii investors that and rise as well as fall can them from .invested they money the back get not may fund-sub or scheme a for advertisement securities A– 3 :include not must investment or return total of prediction or projection A .i in unit a of or fund-sub or scheme the of performance .fund-sub or scheme the .party any by endorsement or testimonial of form Any .ii securities all of records maintain must manager CIS A– 4 with together media any in places it advertisements concerned medium the and placement of dates the advertisement such any of copy a provide must and .request its upon promptly Authority the to fundsub or scheme approved an of Performance – 8529 a of value the of performance the to reference No– 1 fund-sub or scheme a in unit a or fund-sub or scheme it unless manager CIS a by media any in made be may .Article this of requirements the with complies unit per value asset net in growth the to reference Any– 2 (funds-sub or schemes or (fund-sub a or scheme a of or scheme a in unit a by produced income the to or comply must) funds-sub or schemes or (fund-sub :requirements following the with subscription any of net stated be must return Total .i annual of and charge redemption any of and charge the with fund-sub or scheme the of out paid expenses .scheme the by paid taxation of exception

Regulation Scheme Investment Collective – 8000 Series 34 مجموعة 8000 – النظام الخاص بهيئات الاستثمار الجماعي expense operational the ,charge subscription The .ii or scheme the of charge redemption any and ratio percentage a as prominently stated be must fund-sub .unit the of value asset net the of comparison in presented be must return Total .iii CIS the in disclosed index or benchmark the with and concerned fund-sub or scheme the of prospectus in included not are or are costs whether state must benchmark or index the If .index or benchmark that the ,return total of elements all include not does return of elements what disclose must advertisement how and index or benchmark the in included not are s’scheme the of comparison the affects omission that .index or benchmark the with return total shown be must fund-sub or scheme a for return Total .iv no but years ten and five ,three ,one for separately one than less of period a for shown be may returns .year be must) fund-sub or (scheme a for return Total .v the of quarter recent most the of end the to current .year calendar .stated clearly be must data return total of source The .vi is that provider information an not is source the If to statement a then manager CIS the of independent .prominent be should effect this be may shown information performance the If .vii an ,way any in unitholders potential to misleading .included be must information the of explanation and scheme approved of pricing and Valuation – 8530 units fund-sub a of valuation for responsible is manager CIS The– 1 net the of calculation the and fund-sub a and scheme .fund-sub a and scheme a in units of value asset must scheme ended closed a of manager CIS The– 2 frequency the at unit per value asset net the calculate least at be shall which prospectus CIS the in stated value asset net The .intervals regular at year a twice its following immediately published be shall unit per The .manager CIS the of website the on calculation scheme ended closed a by held estate real of valuation independent appointed the by undertaken be shall .scheme the to expert estate real the and unit a of value asset net the of Calculation– 3 :place take must unit a of price and point valuation the at ,scheme ended open an For .i which prospectus CIS the in stated frequency the at regular at weeks two every once least at be must .intervals and point valuation the at ,scheme interval an For .ii which prospectus CIS the in stated frequency the at regular at year per times four than less not be must .intervals ً

Regulation Scheme Investment Collective – 8000 Series 35 مجموعة 8000 – النظام الخاص بهيئات الاستثمار الجماعي must fund-sub or scheme the of prospectus CIS The– 4 the of calculation the for basis and method the state with agreed be must that unit per value asset net the with comply must basis This .custodian CIS the

Annex of requirements
an or scheme ended open an of manager CIS The– 5 for responsible is) fund-sub or (scheme interval subscribed be may units which at price the calculating day dealing any on units of price The .redeemed or the of assets the of costs dealing plus valuation pricemid the on based unit per value asset net be must charge a less or subscription for charge a plus ,scheme swing to permitted is price unit The .redemption for when basis valuation price offer market the to up than units more selling is fund-sub or scheme the bid market the to down swing to and redeeming is it is fund-sub or scheme the when basis valuation price .selling is it than units more redeeming .places decimal four to expressed be must prices Unit– 6 record must custodian CIS the and manager CIS The– 7 scheme a of liability a or asset an where instance each unit per price the or incorrectly valued is fund-sub or the to available made be must record This .incorrect is .request upon Authority the 1%, than more by incorrect is price unit the If– 8 CIS the and Authority the notify must manager CIS CIS the and effect this to immediately custodian outgoing or incoming any reimburse must manager consequence a as damage suffered has who unitholder any for fund-sub or scheme the reimburse must and .days 30 within consequence a as suffered damage notification written give must custodian CIS The make to fails manager CIS the if Authority the to .deadline established the within reimbursement 25% than more falls unit per value asset net the If– 9 of December 31 on unit per value asset net the from the notify must manager CIS the ,year previous the .immediately Authority undertake shall fund-sub a or scheme a of auditor The– 10 net the of calculation the on check spot random a the ,)fund-sub or (scheme a or unit per value asset or ended open an of unit a of price the of calculation with compliance and) fund-sub or (scheme interval less not limits investment) s’fund-sub or (scheme the scheme alone-stand each for annum per once than .audited is that fund-sub and

Regulation Scheme Investment Collective – 8000 Series 36 مجموعة 8000 – النظام الخاص بهيئات الاستثمار الجماعي requirements Audit – 8531 be must scheme approved an of auditor The– 1 .custodian CIS the and manager CIS the of independent the audit also may scheme approved an of auditor The– 2 .scheme that of manager CIS replace to manager CIS the require may Authority The– 3 :if scheme a of auditor the misconduct professional of allegations are There .i ;auditor that against ;independent be to ceases auditor the If .ii sufficient have not does auditor the that determines It .iii its perform satisfactorily to capacity or expertise .functions audit agreed be must auditor the to payable fee audit The– 4 annual CIS the in disclosed and manager CIS the by .accounts and report unitholders of Meetings – 8532 of meeting general extraordinary an call may fundsub or scheme approved an of manager CIS The– 1 .initiative own its at unitholders general extraordinary an call must manager CIS The– 2 receiving of days 10 within unitholders of meeting not holding unitholders by signed request written a the in issue in units of value the of 10% than less .fund-sub or scheme the of notification written give must manager CIS The– 3 fund-sub or scheme the of unitholders all to meeting the call to decision the of date the on register the on .Authority the and custodian CIS the and ,meeting ‘days 15 least at give must notification written The and meeting the of notice’ days 25 than more not and and time the and venue the ,agenda the state must .meeting the of date a of conduct for required quorum minimum The– 4 in present unitholders two is unitholders of meeting its and manager CIS the excluding proxy by or person .associates minimum required the time reasonable a after If– 5 a call must manager CIS the ,present not is quorum notification written send must and meeting second ,custodian CIS the and Authority the ,unitholders to twenty than more not and ten than less not giving the At .meeting reconvened the of notice’ days holding unitholders of number any ,meeting second a is proxy by or person in present units of number any .associates its and manager CIS the excluding ,quorum another appoint to entitled is unitholder Every– 6 to proxy a fund-sub or scheme the in unitholder .meeting unitholder a at them represent CIS the by chaired be must meeting unitholder The– 7 .custodian ً

Regulation Scheme Investment Collective – 8000 Series 37 مجموعة 8000 – النظام الخاص بهيئات الاستثمار الجماعي CIS the by taken be must meeting the of Minutes– 8 the with record accurate an as agreed and manager .records CIS the of part form must and custodian CIS at vote one exercise to entitled is unitholder Every– 9 the that unit each for unitholders of meeting the .meeting the of time the at holds unitholder fund-sub or scheme a to change material proposed A– 10 75% than less not of holders if only adopted be must .change that of favor in vote issue in units of investors and unitholders to Disclosure – 8533 information key the provide must manager CIS The– 1 class unit or fund-sub or scheme the for document of sale a if and invest they before investor every to that provide must party third a through made is units be to party third that to document information key .invest they before investor the to provided ,document information investor key current The– 2 short CIS recent most and prospectus CIS current report annual CIS recent most and report annual form be must fund-sub or scheme the of accounts and of free investors potential to provided promptly .request their at charge must fund-sub or scheme a of manager CIS The– 3 a of unit per value asset net the publish immediately the on calculated is it as often as fund-sub or scheme this where state must and manager CIS the of website information key and prospectus CIS the in published is .document most and document information key current The– 4 report CIS or report annual CIS form short recent is report annual CIS form short a if accounts and under fund-sub and scheme each for published not made be must manager CIS a of management the the on available permanently and prominently .manager CIS the of website the of accounts and report annual CIS recent most The– 5 potential a to provided be must fund-sub or scheme annual form short CIS a unless request upon investor .instead provided is report the in unitholder each provide must manager CIS The– 6 financial the of day last the on fund-sub or scheme the and owned units of statement annual an with year first the on owned units of unit per value asset net units in transactions and ,period the of days last and the in units income to paid returns investment and .period send must fund-sub or scheme a of manager CIS The– 7 of statement a units of redeemer or subscriber each 5 within sold or bought units of value and number the .transaction the of days

Regulation Scheme Investment Collective – 8000 Series 38 مجموعة 8000 – النظام الخاص بهيئات الاستثمار الجماعي document information Key – 8534 for prepared be must document information key A– 1 and scheme umbrella an not is which scheme each .scheme umbrella an of fund-sub each preparation the for responsible is manager CIS The– 2 that document information key the of content and the and statute CIS the with consistent be must CIS the when updated be must and prospectus CIS .updated is prospectus and 1 Annex of requirements the meet must fundsub or scheme a for document information key A– 3 CIS the obtain to how on information contain must .prospectus accounts and report annual CIS – 8535 annual form short CIS a prepare may Manager CIS A– 1 the of content The .fund-sub or scheme a for report with consistent be must report annual form short CIS state must and accounts and report annual CIS the .accounts and report annual CIS the obtain to how preparation the for responsible is manager CIS The– 2 accounts and report annual CIS the of content and or scheme a for report annual form short CIS the and this of requirements the meet must that fund-sub
2. Annex and Regulation
must accounts and report annual CIS audited The– 3 two by signed and manager CIS the by approved be .manager CIS the of directors the for accounts and report annual CIS audited The– 4 the in unitholders all to sent be must year calendar financial the of day last the on fund-sub or scheme short CIS a unless year next the of March 31 by year the in unitholders all to sent is report annual form .deadline same the by fund-sub or scheme Termination – 8536 unitholders of consent the seek must manager CIS A– 1 general extraordinary an at fund-sub or scheme a of change material a to applying 8522 Article under fundsub or scheme approved an terminate to meeting .fund-sub or scheme the to a of termination to unitholders of consent The– 2 an of case the in required not is fund-sub or scheme scheme approved an of fund-sub or scheme approved CIS and statute CIS the in specified life fixed a with CIS The .expires life fixed that when prospectus Authority the and unitholders the give must manager .termination such of notice’ days thirty least at

Regulation Scheme Investment Collective – 8000 Series 39 مجموعة 8000 – النظام الخاص بهيئات الاستثمار الجماعي scheme a of termination to unitholders of consent The– 3 approved an of case the in required not is fund-sub or CIS whose scheme approved an of fund-sub or scheme be will it that state clearly prospectus CIS and statute ,events specified of occurrence the upon terminated The .occurred has events those of one that provided unitholders and Authority the notify will manager CIS the of occurrence the after immediately writing in the of termination the triggering event specified .scheme scheme a of termination to unitholders of consent The– 4 approved an of case the in required not is fund-sub or terminated be to required is that fund-sub or scheme
706. Law of 18 Article under
published be must scheme approved an of Termination– 5 .Gazette Lebanese the in Authority the to Reporting – 8537 the to report monthly a submit must manager CIS A– 1 its under funds-sub and schemes the all on Authority the of day last the of days ten within management of requirements the meet must report The .month to requirement this vary may Authority The 3. Annex .report quarterly require

Regulation Scheme Investment Collective – 8000 Series 40 مجموعة 8000 – النظام الخاص بهيئات الاستثمار الجماعي in established schemes offer Exempt – F Part Lebanon
Part this of Application – 8601
established schemes offer exempt to applies Part This– 1 .Lebanon in Authority the to Notification – 8602 offer exempt an establish to seeking person Any– 1 notification written submit must Lebanon in scheme .intention this of Authority the to institution approved an be must applicant The– 2 collective manage to Authority the by approved .Lebanon in schemes investment of requirements the meet must notification A– 3

Annex
offered be only may scheme offer exempt an in Units– 4 in made offer CIS exempt an through Lebanon in of Offers the and 8603 Article with accordance .Regulation Securities investors of eligibility and schemes offer Exempt – 8603 this of purposes the for offer CIS exempt an is fundsub or scheme offer exempt an in units of offer An– 1 :where Regulation and; clients professional all are offerees The .i per subscription in payable amount minimum The .ii another in equivalent the or 50,000 US$ is offeree .currency compliance in than other offered fund-sub or scheme A– 2 approved for requirements the meet must) 1 (with .funds-sub and schemes (1) than other circumstances in ,may Authority The– 3 to seeking manager CIS a of application upon and ,scheme offer exempt an in units of offer an make an as treated be must offer an such that determine such with compliance to subject scheme offer exempt .impose may Authority the as limitations requirements scheme offer Exempt – 8604 a in units offer to proposes that manager CIS A– 1 :must scheme offer exempt document constituting the Authority the to Submit .i must that scheme the for document offering and that state and) 5 (in required disclaimer the include be not must scheme the to subscription minimum the in equivalent current the or (million 10 US$ than less ;(currency another ;Authority the by prescribed fee the Pay .ii reasonably is that information other any Provide .iii .Authority the by required

Regulation Scheme Investment Collective – 8000 Series 41 مجموعة 8000 – النظام الخاص بهيئات الاستثمار الجماعي the 8602 Article under notice a receiving after If– 2 units of offer proposed the that considers Authority or Lebanon in investors of interests the in be not may Regulations the or 161 Law of breach a in result may :actions following the take may it then 161 Law under to relevant considers it that enquiries any out Carry .i or; offer proposed the further provide to manager CIS the Require .ii any substantiate or certify ,verify to or information .Authority the to provided information offer proposed the that determines Authority the If– 3 may or Lebanon in investors of interests the in not is the Regulations the or 161 Law of breach a in result offer that prohibiting notice a publish may Authority not it directing Manager CIS the to notice a issue and .offer that make to offer proposed the to object not does Authority the If– 4 (1) under notice the of receipt of days fifteen within .scheme the create to proceed may Manager CIS the ,this requests manager CIS the if ,shall Authority The ,manager CIS the to registration of certificate a issue establishment the to objection no has it that stating its of offering the and scheme offer exempt the of the on scheme the of name the enter and units .schemes of Register scheme offer exempt the of document offering The– 5 :that statement prominent a contain must for requirements the to subject not is scheme This“ Lebanon in public the to offered are that schemes Scheme Investment Collective the and 706 Law under supervision to or Authority the by issued Regulation any make not does Authority The .Authority the by of completeness or accuracy the to as representation liability any disclaims expressly and document this in incurred or ,from arising loss any for whatsoever Prospective .document this of part any ,upon reliance own their conduct should scheme the to subscribers information the of accuracy the on diligence due “.scheme the to relation with offer the of results the file must manager CIS The– 6 initial the of end the of days five within Authority the .Authority the by prescribed form the in period offer Participation – 8605 under established be must scheme offer exempt An– 1 document offering the and document constituting the .scheme the of acceptance their signifies scheme the to subscriber A– 2 offering the and document constituting the of in units of purchase the by scheme the of document .scheme the relation in rights all exercise to entitled is unitholder A– 3 .units those for payment upon units to (any if (redeem to unit a of holder the of rights The– 4 and document constituting the in stated be must this how including scheme the of document offering .exercised be can

Regulation Scheme Investment Collective – 8000 Series 42 مجموعة 8000 – النظام الخاص بهيئات الاستثمار الجماعي to consent to unit a of holder the of rights The– 5 and document constituting the to changes proposed the in stated be must scheme a of document offering the of document offering and document constituting .exercised be can rights such how including scheme audited an receive to unit a of holder the of rights The– 6 the in stated be must accounts and report annual CIS .document offering activity market secondary on Restrictions – 8606 or listed be not must scheme offer exempt An– 1 publicly other or exchange securities any on traded .platform transaction accessible if scheme offer exempt an in units of Transfers– 2 only must document constituting the by permitted :made be or; scheme the in unitholders existing To .i minimum the and client professional another To .ii US$ than less not is units such for payable amount .currency another in amount equivalent the or 50,000 scheme a of Termination – 8607 offer exempt an of termination for provisions The– 1 document constituting the in stated be must scheme .scheme the of document offering and policy and objectives Investment – 8608 may scheme offer exempt an of investments The– 1 the but description or type any of assets of consist investment the state clearly must manager CIS and scheme the of policy investment and objective together scheme the of investments permitted the in limitations or restrictions investment any with offering and document constituting s’scheme the .document the under duty a have must manager CIS The– 2 at comply to scheme the of document constituting ,objective investment s’scheme the with times all ,investments permitted ,policy investment the in established as limitations and restrictions offering and document constituting s’scheme .document borrow to scheme offer exempt an of ability The– 3 amount maximum the but unlimited is leverage or the and borrowing such of type and duration and and used be may that leverage achieving of means s’scheme the in stated be must implications their .document offering and document constituting

Regulation Scheme Investment Collective – 8000 Series 43 مجموعة 8000 – النظام الخاص بهيئات الاستثمار الجماعي units in dealing and pricing ,Valuation – 8609 of document offering and document constituting The– 1 :establish clearly must scheme the of valuation the for methodology and basis The .i ;property scheme the of unit per value asset net of calculation The .ii that of timing and frequency the and scheme ;calculation schemes ended open for units of pricing on policy The .iii ;schemes interval and of units of transfer and in dealing for Requirements .iv interval and schemes ended open for scheme the .schemes any of unitholders notify must manager CIS The– 2 such for procedure the and) 1 (under change .document offering the in out set be must notification promotional and advertisements Securities – 8610 materials communicate or advertise not must manager CIS A– 1 materials promotional and advertisements securities the unless scheme offer exempt an to relating :with complied are conditions following promotional or advertisement securities The .i to solely available and at directed are materials and; clients professional identified the with complies advertisement securities The .ii Registration and Licensing the of requirements and; Regulation
Article under made been has notification Written .iii
period day 14 prescribed the and) 1 (article-sub 8601
article-sub 8601 Article under notification following
received been has objection no and passed has) 4( .Authority the from

Regulation Scheme Investment Collective – 8000 Series 44 مجموعة 8000 – النظام الخاص بهيئات الاستثمار الجماعي scheme foreign a in units of Offer – G Part
Part this of Application – 8701
or (schemes foreign of offer the to applies Part This– 1 .Lebanon in) funds-sub offer for requirements General – 8702 Lebanon in scheme foreign a in units of offer Public– 1 is) fund-sub or (scheme that unless permitted not is created) fund-sub or (scheme investment collective a the by approved is that jurisdiction foreign a in the and offer public for jurisdiction that in regulator as Authority the by approved is) fund-sub or (scheme investors Lebanese to protection equivalent offering .Regulation this and 706 Law as in) fund-sub or (scheme foreign a in units of offer An– 2 or (scheme approved foreign a not is that Lebanon with complies offer the if permitted only is) fund-sub the and Part this of requirements offer CIS exempt the foreign a of offer An .Regulation Securities of Offers of purposes the for offer CIS exempt an is scheme :where Regulation this and; clients professional all are offerees The .i is offeree each by subscribed amount minimum The .ii .currency another in equivalent the or 50,000 US$ not does that offer fund-sub or scheme foreign A– 3 a for requirements the meet must) 2 (with comply .Part this in fundssub and schemes approved foreign of offer public Lebanon in) funds-sub or (schemes foreign of Offering– 4 institution approved an by undertaken be must .activity that undertake to eligible offer public and approval for Requirements – 8703 for) fund-sub or (scheme foreign a of Notification– 1 approved an by made be must Lebanon in offer public .Authority the to institution required information the contain must application The– 2 current the of copy a include must and 1 Annex in (fund-sub or (scheme the for document offering .English or Arabic in document constituting its and addendum an include must document offering The 8706 Article in required disclaimer the containing .(1) article-sub to acceptable evidence provide must applicant The– 3 which for) fund-sub or (scheme the that Authority the public for approved been has made is application jurisdiction a in authority regulatory a by subscription equivalent least at provide to Authority the by judged .Regulation this and 706 Law to protection investor must Authority the by prescribed fee application The– 4 .paid be ً

Regulation Scheme Investment Collective – 8000 Series 45 مجموعة 8000 – النظام الخاص بهيئات الاستثمار الجماعي Authority the of powers and Process – 8704 30 within application the consider shall Authority The– 1 this by required information the all of receipt of days .Regulation foreign a of approval for application an assessing In– 2 :may Authority the) fund-sub foreign or (scheme it that investigation or enquiry ,review any out Carry .i .appropriate considers .applicant the of premises or office any Inspect .ii the matter any explain to applicant the Require .iii .application the to relevant considers Authority additional any provide to applicant the Require .iv Authority the that documents or information .relevant considers substantiate or certify ,verify to applicant the Require .v .Authority the to provided information any application an consider to refuse may Authority The– 3 :if .incomplete is It .i the by prescribed requirements the meet not does It .ii .Authority information provide to failed has applicant The .iii provide to failed has or ,Authority the by requested .time specified a within information .paid been not has Authority the by prescribed fee The .iv the ,application an of assessment its completing After– 4 :decisions following the of one make will Authority .part in or whole in application the Approve .i and conditions any to subject application the Approve .ii .appropriate considers Authority the that limitations .application the Refuse .iii application an approve to decides Authority the If– 5 ,applicant the to notification written give must it the on limitations and conditions any including name the enter and Authority the by set approval the in) fund-sub foreign or (scheme foreign the of .schemes of Register it ,application an refuse to decides Authority the If– 6 .applicant the to notification written give must fundsub additional an of offer public of Notification – 8705 umbrella an of fund-sub new a in units of offer Public– 1 not is Authority the by approved previously scheme :unless permitted notice prior’ days 30 received has Authority The .i approved the from fund-sub the of addition the of and; institution any of applicant the notified not has Authority The .ii of receipt of days 30 within fund-sub the to objection .fund-sub the of addition proposed the of notice the . ً

Regulation Scheme Investment Collective – 8000 Series 46 مجموعة 8000 – النظام الخاص بهيئات الاستثمار الجماعي requirements document Offering – 8706 approved foreign the for document offering The a include must) fund-sub foreign or (scheme :stating addendum prominent (fund-sub or (scheme investment collective This“ Authority Market Capital the by approved been has this ,However .Lebanon in offer public for Lebanon of Capital the by supervised or regulated not is scheme .“Lebanon of Authority Markets status scheme approved foreign to Changes – 8707 the cancel or suspend ,vary may Authority The– 1 or) fund-sub foreign or (scheme foreign a of approval under it to available powers other the of any employ .interest public the in 161 Law or 706 Law status scheme approved foreign of Cancellation – 8708 foreign a of approval the cancel may Authority The– 1 any pay to failure for) fund-sub foreign or (scheme .date due the by Authority the by prescribed fee Authority the request may institution approved An– 2 foreign or (scheme foreign a of approval the cancel to Authority the to request written a filing by) fund-sub of date proposed the of advance in days sixty least at .cancellation the reasons the state must approval an cancel to request A– 3 .cancellation the for institution approved the require may Authority The– 4 :to approval an cancel to request a making that documents or information additional any Provide .i or ,necessary considers Authority the information any substantiate or certify ,Verify .ii .Authority the to provided may Authority the ,request the considering After– 5 :to decide .approval the Cancel .i pending cancellation the of date the postpone or Delay .ii .action further the ,)5 (article sub under decision a making In– 6 take to institution approved an direct may Authority considers Authority the that measures or action any or (scheme foreign the of protection the for necessary .Lebanon in unitholders) fund-sub foreign of distribution suspend to Authority of Power – 8709 schemes approved foreign to institution approved an direct may Authority The– 1 approved foreign a of distribution cease to or suspend is that considers it if fund-sub foreign or scheme .interest public the in necessary

Regulation Scheme Investment Collective – 8000 Series 47 مجموعة 8000 – النظام الخاص بهيئات الاستثمار الجماعي of eligibility and schemes exempt Foreign – 8710 investors an is) fund-sub or (scheme foreign a in units of offer An– 1 Regulation this of purposes the for offer CIS exempt .(2) articlesub 8702 Article of requirements the meets it where requirements scheme exempt Foreign– 8711 foreign a offer not must institution approved An– 1 :has it unless) fund-sub foreign or(scheme exempt the make to intention its of Authority the Notified .i days 15 least at 1 Annex in out set form the in offer ;offer the making to prior required information the Authority the to Submitted .ii ;1 Annex in document constituting the Authority the to Submitted .iii or (scheme foreign the for document offering and addendum an include must that) fund-sub foreign ;8712 article in required disclaimer the containing ;Authority the by prescribed fee the Paid .iv reasonably is that information other any Provided .v .Authority the by required a of offer proposed a of notice receives Authority the If– 2 considers it that) fund-sub foreign or (scheme foreign of breach a in result may or interest public the in not is following the take may it ,Regulation this or 161 Law :actions ,appropriate considers it that enquiries any out Carry .i explain to institution approved the requiring including to relevant considers Authority the that matters any or; offer CIS exempt proposed the further provide to institution approved the Require .ii the as manner such in confirm to or information provided information the that ,specify may Authority .accurate is exempt proposed the that determines Authority the If– 3 a in result may or interest public in not is offer CIS Authority the Regulation this or 161 Law of breach is offer the that institution approved the notify may necessary considers it action any take and ,prohibited .decision its enforce to proposed the to object not does Authority the If– 4 notice a of receipt of days 15 within offer CIS exempt the make may institution approved the) 1 (under request the at ,shall Authority The .offer proposed applicant the to certificate a issue ,applicant the of of offer CIS exempt the to objection no has it stating .(fund-sub foreign or (scheme foreign the proposed the to object not does Authority the If– 5 notice a of receipt of days 14 within offer CIS exempt the of name the enter shall Authority the) 1 (under Register the on) fund-sub foreign or (scheme foreign .schemes of

Regulation Scheme Investment Collective – 8000 Series 48 مجموعة 8000 – النظام الخاص بهيئات الاستثمار الجماعي offering or prospectus to addendum Required – 8712 document exempt foreign the for document offering The a include must) fund-sub foreign or(scheme :stating addendum prominent the to subject not is) fund-sub or (scheme This“ the to offered are that schemes for requirements supervision to or 706 Law under Lebanon in public does Authority The .Authority Markets Capital the by accuracy the to as representation any make not expressly and document this of completeness or arising loss any for whatsoever liability any disclaims this of part any ,upon reliance in incurred or ,from scheme the to subscribers Prospective .document the on diligence due own their conduct should “.scheme the to relation information the of accuracy Authority the by consent of Cancellation – 8713 CIS exempt to consent its cancel may Authority The– 1 :for) fundsub foreign or (scheme exempt foreign a of offer by Authority the by prescribed fee any pay to Failure .i or; date due the to institution approved the of failure persistent For .ii or; Part this with comply .requirements offer exempt with comply to failure For .iii activity market secondary on Restriction – 8714 must) fund-sub foreign or (scheme exempt foreign A– 1 or exchange securities any on traded or listed be not .Lebanon in platform trading accessible publicly or (schemes exempt foreign in units of Transfers– 2 constituting the by permitted if) (funds-sub foreign :Lebanon within made be only must) document ; (fund-sub or (scheme the in unitholders existing To .i or minimum the where client professional another To .ii US$ than less not is units such for payable amount .currency another in amount equivalent the or 50,000 promotional and advertisements Securities – 8715 materials or advertise not must institution approved An– 1 and advertisements securities communicate exempt foreign a to relating materials promotional following the unless) funds-sub foreign or (scheme :with complied are conditions promotional or advertisement securities The .i accessible are and at solely directed are materials and; clients professional identified to solely the with complies advertisement securities The .ii Registration and Licensing the of provisions applicable and; Regulation

Regulation Scheme Investment Collective – 8000 Series 49 مجموعة 8000 – النظام الخاص بهيئات الاستثمار الجماعي written the following elapsed have days Fifteen .iii scheme the of offer the of Authority the to notification
article-sub 8711 Article in required Authority the to
foreign the of offer the to objection no and) i) (1( from received been has) fund-sub foreign or (scheme .Authority the Authority the to Reporting – 8716 report monthly a submit must institution approved An– 1 to redemptions and subscriptions on Authority the to funds-sub foreign and schemes foreign the of each day last the of days ten within institution the by sold requirements the meet must report The .month the of requirement this vary may Authority The 4. Annex of .report quarterly require to

Regulation Scheme Investment Collective – 8000 Series 50 مجموعة 8000 – النظام الخاص بهيئات الاستثمار الجماعي Authority the of Powers General – H Part Authority the by Enforcement– 8801 CIS or manager CIS a direct may Authority The– 1 action any take to fund-sub or scheme a of custodian necessary considers Authority the that measures or the for or Regulation this of breach a correct to or fund-sub or scheme a in unitholders of protection .interest public the in sanctions administrative impose may Authority The– 2 this of provisions the violates who person any on that sanctions the with accordance in ,Regulation and 09/12/2005 of 706 Law under imposed be may 17/8/2011. of 161 Law

Regulation Scheme Investment Collective – 8000 Series 51 مجموعة 8000 – النظام الخاص بهيئات الاستثمار الجماعي provisions Transitional – I Part Regulation the of application of Date– 8901 investment collective domestic all of operation The– 1 this of date the to prior Lebanon in offered schemes this with comply must force into coming Regulation of date the from months eighteen within Regulation .force into entering Regulation this investment collective domestic all of offering The– 2 Regulation this with comply must Lebanon in schemes .force into entering Regulation this of date the from collective foreign all of offering exempt The– 3 in offered) funds-sub or (schemes investment coming Regulation this of date the to prior Lebanon Regulation this of G Part with comply must force into .force into comes Regulation this that date the from collective foreign any of offering public The– 4 Lebanon in offered) fund-sub or (scheme investment permitted not is Regulation this of date the to prior force into comes Regulation this that date the from it that writing in confirmed has Authority the unless the meets) fund-sub or (scheme that that satisfied is
8702. article of requirements
or establishment the to applies Regulation This– 5 scheme investment collective any of offering for made is application an which for Lebanon in whether (scheme that of offering or establishment offering or establishing for registration or approval for this of date the from) Lebanon in schemes such of .force into entering Regulation

Regulation Scheme Investment Collective – 8000 Series 52 مجموعة 8000 – النظام الخاص بهيئات الاستثمار الجماعي ANNEXES COLLECTIVE A FOR FORM APPLICATION – 1 ANNEX OF REGISTRATION OR APPROVAL SCHEME INVESTMENT EXEMPTION Instructions exemption of registration or approval for applicant An– 1 (fund-sub or (scheme investment collective a of supporting all and form completed this file must :at Authority the with documents and information [applications filing for address and Name[ and information relevant the all file must applicant An– 2 application this to exhibits the in listed documents .below prescribed as form to required are that reports and information ,forms All– 3 soft and copy hard both in submitted be must filed be require that Documents .)email by or CD a on or (copy as form original copy hard in filed be must signature a .copy soft by as well senior with interview an require may Authority The– 4 the require may and applicant the of management .documents or information additional file to applicant cannot and returned be will applications Incomplete– 5 .completed until processed be or ,information misleading files that applicant An– 6 filing by Authority the mislead to attempts that be will ,information inaccurate or false ,incomplete .exemption of registration or approval denied of registration or ,approval for application making In– 7 manager CIS the and) fund-sub or (scheme that) fundsub or (scheme investment collective a for exemption as Regulation the to subject become scheme that of .application of time the of

Regulation Scheme Investment Collective – 8000 Series 53 مجموعة 8000 – النظام الخاص بهيئات الاستثمار الجماعي INVESTMENT COLLECTIVE A FOR FORM APPLICATION EXEMPTION OF REGISTRATION OR APPROVAL SCHEME applicant of Name– 1 Date– 2 DECLARATION S’APPLICANT for] exemption of registration] [approval [for apply We– 1 [(fund-sub or (scheme investment collective of name[ .Authority the by Collective the understood and read have We– 2 .Regulation Schemes Investment ,approved is application this if ,that undertake We– 3 with comply will agents and employees our and we Investment Collective the of provisions relevant the directions and decisions all and Regulation Schemes .Authority the of :that confirm hereby We– 4 this in included and out set information The .i of best the to ,accurate and complete is application .belief and knowledge our compliance in is and meets) fund-sub or (scheme The .ii registration] [approval [for requirements the of all with .belief and knowledge our of best the to] exemption of are that matters or facts additional no are There .iii our of consideration s’Authority the to material the to disclosed not have we that application .Authority any of Authority the advise to undertake We .iv any at occurs that change fundamental or significant time such until and submitted is form this after time be to or activities its conduct to ceases scheme the as .Lebanon in offered person any contact to Authority the authorize We .v In .form this of contents the verify to herein named the to refer may Authority Regulatory the doing so .Application

Regulation Scheme Investment Collective – 8000 Series 54 مجموعة 8000 – النظام الخاص بهيئات الاستثمار الجماعي APPLICANT THE OF BEHALF ON EXECUTED applicant of Name
.................................................................................................
.................................................................................................
Date
.................................................................................................
[equivalent or CEO [applicant of Title
.................................................................................................
.................................................................................................
declaration this to signatory for information Contact
.................................................................................................
.................................................................................................
FORM APPLICATION applicant of Name– 1 applicant of office of address and Location– 2 main the for information contact and title ,Name– 3 application the for) s(person contact legal for information contact and address ,Name– 4 this on advising are who advisers other or counsel (any if (application applicant of website Company– 5 approved] [manager CIS [applicant of Status– 6 [institution [Manager CIS [as applicant of number License– 7 [institution approved[ :scheme investment collective of structure Legal– 8 investment] [trust unit)] [contractual (fund mutual[ [state please – other] [partnership] [company investment collective of structure Operational– 9 [scheme interval] [scheme ended open [:scheme [scheme ended closed[ [fundsub] [scheme] [scheme umbrella [:scheme of Nature– 10 collective the which in territory or Country– 11 :created legally is) fund-sub or (scheme investment [territory or country of name[ scheme investment collective the which under Law– 12 [law of name [:country that in created is) fund-sub or( that enforcing for responsible regulator of Name– 13 [regulator of name [:law scheme investment collective that in scheme investment collective of Status– 14 for eligible not] [offer public for eligible [:country [offer public collective of number registration/approval/License– 15 :country that in) fund-sub or (scheme investment
.................................................................................................
.................................................................................................
.................................................................................................
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Regulation Scheme Investment Collective – 8000 Series 55 مجموعة 8000 – النظام الخاص بهيئات الاستثمار الجماعي way any in precluded ,reason any for ,applicant the Is– 16 investment collective the operating or offering from ?made is application the which) fund-sub or (scheme (details provide ,yes If( any or licensing ,registration s’applicant the Has– 17 securities any by authorisation of form other suspended been ever authority statutory or authority (details provide ,yes If? (terminated or any of subject the currently applicant the Is– 18 If? (litigation or proceeding regulatory ,investigation (details provide ,yes 1 EXHIBIT OR APPROVAL AN ACCOMPANY TO INFORMATION APPLICATION EXEMPTION OF REGISTRATION application exemption and approval General requirements of registration or approval for application An– 1 information following the of all file must exemption .Authority the with documents and an for applicants by supplied be to Information– A domestic a for exemption for registration or approval scheme investment collective scheme investment collective the of statute CIS the .i in required information the contain must which relevant the with compliant be must which 2 Exhibit as) exempt or approved (for applied status regulatory Regulation the under required investment collective the of prospectus CIS the .ii the contain must which funds-sub any and scheme be must which 3 Exhibit in required information applied status regulatory relevant with compliant the under required as) exempt or approved (for Regulation information key the ,scheme approved an for .iii in funds-sub any and scheme the for document 4 Exhibit with compliance and auditor independent proposed the of name the .iv this in act to agreement their giving letter signed a capacity license the ,custodian CIS proposed the of name the .v signed a and institution approved an is it if number capacity this in act to agreement their stating letter in investing scheme ended closed a of case the in .vi independent appointed the of name the ,estate real to agreement their giving letter signed a and expert capacity this in act .4

Regulation Scheme Investment Collective – 8000 Series 56 مجموعة 8000 – النظام الخاص بهيئات الاستثمار الجماعي approval for applicants by supplied be to Information– B collective foreign a of exemption an of registration or (fund-sub or (scheme investment of evidence ,approval for application an of case the In .i for eligible as) fund-sub or (scheme the of status the /country the of regulation/law the under offer public created was scheme the which in territory of registration for application an of case the In .ii registered or exempt the of evidence ,exemption investment collective the of status) equivalent or( the of regulation/law the under) fund-sub or (scheme created was scheme the which in territory/country scheme the of documents constituting the of copy A .iii a is it that verification translated if and) [fund-sub or( [translation correct key any and document offering the of copy A .iv or (scheme the of similar or document information of ,scheme umbrella an of case the in ,and) fund-sub made is application which of respect in funds-sub all that verification translated if and [Arabic or English in [translation correct a is it and report annual CIS recent most the of copy A .v case the in and) fund-sub or (scheme the of accounts of respect in fund-sub each for scheme umbrella an of .made is application which

Regulation Scheme Investment Collective – 8000 Series 57 مجموعة 8000 – النظام الخاص بهيئات الاستثمار الجماعي APPROVED TO CHANGE FOR APPLICATION) – A (1 ANNEX CIS applicant of Name– 1
.................................................................................................
.................................................................................................
Date– 2
.................................................................................................
DECLARATION S’APPLICANT of name [for approval the in variation for apply We– 3 the by)] fund-sub or (scheme investment collective .Authority Collective the understood and read have We– 4 .Regulation Schemes Investment ,approved is application this if ,that undertake We– 5 with comply will agents and employees our and we Investment Collective the of provisions relevant the directions and decisions all and Regulation Schemes .Authority the of :that confirm hereby We– 6 this in included and out set information The .i of best the to ,accurate and complete is application .belief and knowledge our and meet to continue will) fund-sub or (scheme The .ii for requirements the of all with compliance in is .belief and knowledge our of best the to approval are that matters or facts additional no are There .iii our of consideration s’Authority the to material the to disclosed not have we that application .Authority person any contact to Authority the authorize We .iv In .form this of contents the verify to herein named the to refer may Authority Regulatory the doing so .Application APPLICANT THE OF BEHALF ON EXECUTED applicant of Name Date [equivalent or CEO [applicant of Title :declaration this to signatory for information Contact changes following the of which indicate Please (:)fundsub or (scheme approved of amendment of Nature– 1 or; undertake to wishes applicant the below described (needed as add or one of addition ,scheme umbrella an of case the In funds-sub more ............. to .......... from status regulatory Vary ............... to ............ from structure legal Vary ......... to ......... from structure operational Vary
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Regulation Scheme Investment Collective – 8000 Series 58 مجموعة 8000 – النظام الخاص بهيئات الاستثمار الجماعي an to change fundamental a is which Alteration :(fund-sub or (scheme approved CIS or documents constituting the to Alteration prospectus custodian CIS or manager CIS the in Change funds-sub more or one of Termination scheme the of Termination Other scheme the to change significant a is which Alteration [nature state[...................) fund-sub or( Other 2 EXHIBIT FOR STATUTE CIS THE IN CONTAINED BE TO INFORMATION SCHEME APPROVED AN investment collective a of document constituting The – include should scheme scheme of Name– 1 established is scheme which under Law– 2 scheme of form Legal– 3 scheme of structure Capital– 4 policy investment and objective investment Scheme– 5 pay to liability s’Participant– 6 scheme the to liable only is unitholder a that Provision [ that in held unit the of value the of extent the to [.(7) 8508 article reference scheme scheme of expenses other and charges ,Fees– 7 units of types and Classes– 8 units paid partly No– 9 issued be may units paid partly no that statement A[ potential or unitholders to granted be shall credit no and [.unitholders distribution capital and Income– 10 restrictions borrowing and Investment– 11 risks borrowing of Management– 12 pricing and Valuation– 13 currency Base– 14 manager CIS of duties and Functions– 15 custodian CIS the of duties and Functions– 16 holders of Meetings– 17 :following the of details providing statement A[ ;unitholders of meetings calling for procedures the .a ;unitholders of meetings at voting and resolutions .b ;unitholders of rights voting the .c ;unitholders of approval the require that matters the .d special a of approval the require that matters the .e [.resolution ً

Regulation Scheme Investment Collective – 8000 Series 59 مجموعة 8000 – النظام الخاص بهيئات الاستثمار الجماعي periods Accounting– 18 scheme of Duration– 19 parties of Replacement– 20 up-winding and Suspension– 21 —of details providing statement A[ a initiate may manager CIS the which on grounds the .a and; scheme the of suspension and; terminated be may fundsub the or scheme the which in circumstances the .b of rights the out working for methodology the .c on property scheme the in participate to unitholders [.up-winding document constituting of Amendment– 22 units to title evidencing Documents– 23 redemption and subscription unit on limits Any– 24 associates with interests of Conflicts– 25 or (interests of conflicts managing for Provisions[ the by transactions in) interest of conflicts potential scheme the to relation in associates with manager CIS [.property changes Material– 26 of unitholders by approval for providing Provisions[ [.scheme the to relation in changes material scheme umbrella an of case the In– 27 any in units exchange to entitled is holder the That .a unitholder no that but fund-sub other any or fund-sub to right the have may exchange an such requesting ;exchange that cancel or from withdraw subsequently costs the funds-sub between allocating for policy The .b umbrella the of out payable expenses or charges or any to attributable not are which property scheme ;fund-sub one exchanging on made be may any if charges What .c .fund-sub another in units for fund-sub one in units real in investing scheme ended closed a of case the In– 28 how and expert independent appointed the ,estate .replaced be may expert said

Regulation Scheme Investment Collective – 8000 Series 60 مجموعة 8000 – النظام الخاص بهيئات الاستثمار الجماعي 3 EXHIBIT PROSPECTUS CIS THE IN CONTAINED BE TO INFORMATION SCHEME APPROVED AN FOR :Guidance of base fundamental the constitutes prospectus CIS The collective a of units of subscribers the for information .scheme a of fund-sub a or scheme investment the of copy a ,amended is prospectus CIS the Whenever .Authority the with filed be shall prospectus CIS revised a constitutes Exhibit this by required information The provided added be may information other and minimum the increase to designed is and misleading not is it that .proposed being investment the of comprehension of disclosure full include shall prospectus CIS The an make to investors the by required information the or scheme the in investment the on decision informed .be may case the as scheme the of fund-sub the in :Requirement umbrella an is which scheme a for ,Exhibit this In – stated be must required information ,scheme for information the where fund-sub each to relation in .a and; other any of that from differs fund-sub any where only but ,whole a as scheme umbrella the for .b as scheme umbrella the to relevant is information the whole a given be may information general ,part first the in ,Also collective of understanding the in investor the assist to of type that and general in schemes investment .involved risks the and investment investment collective the of Presentation :I Heading fund-sub or scheme collective the concerning information General– 1 principal and type its indicating ,scheme investment or list following the among from activity of sphere scheme the by defined activity another Status .a law Governing (fund mutual (structure Legal :structure Operational interval ,scheme ended closed ,scheme ended Open scheme :status Offering (offered publicly (scheme Approved fund-sub or Scheme where for details contact and prospectus the of Date obtained be may information more be to capital of amount maximum and minimum The .raised be must it which within period the and raised

Regulation Scheme Investment Collective – 8000 Series 61 مجموعة 8000 – النظام الخاص بهيئات الاستثمار الجماعي scheme investment collective of Address and Name– 2 investment collective the of name full the State .office head its of address the and scheme the during changed was scheme the of name the If .name former its state ,months twelve past .manager CIS the of address and name the State scheme investment collective the of Constitution– 3 was scheme the which under law the State and formation of date the ,manner the ,constituted .structure legal its to relating particularities any constituting the of particulars the of summary a Give or prospectus CIS the to copy attach ,documents of free copy a obtain can investor the where indicate .charge warnings Risk– 4 be must statements following the schemes all For :prominently given any accept not does Authority Markets Capital The“ information the of content the for responsibility the including ,documents offering the in included The .information such of completeness or accuracy lies documents offering the of content the for liability also has CMA The .scheme the of manager CIS the with covered securities the of suitability the assessed not investor particular any for documents offering the by “.investor of type or collective named [the in investment your of value The“ from receive you income the and] scheme investment receive not may You .up as well as down go may ,it “.invested you that amount the back the of performance past where schemes all For :quoted is scheme future of indicator reliable a not is performance Past“ “.performance :funds of fund a is which scheme a For collective other in invest to is function s’scheme This“ scheme this in Investing .schemes investment ,charges of sets two to investor the exposes therefore investment which into scheme the of level the at one into schemes the of level the at another and ,made is “.made is investment which average than higher a involves which scheme a For asset net the of volatility of terms in risk of degree :that warning a ,unit per value and rise to likely is scheme this in units of value The“ those than frequently more and quickly more fall it investments of type the to due schemes other of particular a of uncertainty the increases This .makes “.period given any over achieved being return of level

Regulation Scheme Investment Collective – 8000 Series 62 مجموعة 8000 – النظام الخاص بهيئات الاستثمار الجماعي scheme the of Management and Organisation :II Heading the of functions principal and details Give– 1 ;manager CIS .a ;custodian CIS .b ;applicable if ,registrar .c ;auditor .d of part a or all of management which to entity any .e be will or been has scheme the of investments the ;applicable if ,delegated closed of case the in ,expert independent appointed .f .estate real in investing scheme ended manager CIS :III Heading ,manager CIS the of office head of address and Name .constituted which under law and constitution of date of board the of member each of address and Name that those indicating ,manager CIS the of directors independent of case the In .directors independent are .employment principal their indicate ,directors ,managers portfolio as acting persons natural of Name previous any and qualifications of details with of portfolios of management the in experience .schemes investment collective CIS the of management senior the of Description .manager investment collective the which under Circumstances .terminated be may agreement management scheme and Practices and Objective Investment :IV Heading Characteristics Financial practices and objective Investment– 1 the of objective investment fundamental the State scheme the which in assets of types the ,scheme market money ,shares ,bonds (invest to proposes investment as well as ,).etc ,estate real ,instruments its pursuing in scheme the of practices and policies invest will scheme the whether Identify .objectives in variation any and both or abroad or domestically scheme the If .time over occur may that exposure or countries which in identify ,abroad invest will .invest may it territories the with associated risks the of nature the Explain exposure minimum including ,portfolio s’scheme interest of rate to sensitivity ,market stock to ,risk concentration ,risk currency to exposure ,risk in investment ,risk investment foreign ,risk derivative with associated risk other any and ,risk assets illiquid .portfolio the a in or region geographic a in (specialisation of Degree .(industry of kind or class particular by imposed limitations specific :Diversification .narrower if ,prospectus CIS the by and regulation َ .

Regulation Scheme Investment Collective – 8000 Series 63 مجموعة 8000 – النظام الخاص بهيئات الاستثمار الجماعي the by followed be to rules investment the Describe rules these why to as explanation an give and scheme .applicable if ,regulations these from differ may the of proportion permitted maximum the Identify investment an of consist may that property scheme .description any of acquire to proposes that scheme a of case the In ,schemes investment collective other of securities the resolve to place in put measures the describe ,any if ,risks additional the ,arise may that conflicts the on impact an have will strategy the whether and the and fund-sub or scheme the by payable costs .investment on return permitted amount maximum the identify :Borrowing on limits and borrowing of means the ,borrowed be to .borrowing of use the hedge to derivatives of use any identify :Hedging .implications its and risk currency investors of Type– 2 collective the of units whom for investors of Type ,particular In .suitable be would scheme investment the in investment an for recommended period any .scheme protection or Guarantee– 3 the and ,any if ,protection or guarantee the of Nature terms ,purpose ,guarantee the providing institution .conditions and unit per value asset net the in Changes– 4 net lowest and highest the state available Where audited three last the of each in unit per value asset .prospectus the of date the preceding years Distributions or Dividends– 5 the of gains and income the how and when Explain .applicable if ,distributed be will scheme ,distributions other or dividends of amount the State scheme investment collective the by paid ,any if by distributed gains realized and income including three last its during ,reinvestment dividend of way CIS the of date the preceding years financial audited .prospectus Performance– 6 provide ,offering first a of case the in Except scheme the of performance the on information or (years financial completed three last its during date the preceding) recent more if inception since the at value asset net including ,prospectus the of capital net and income net (results plus ,beginning at value asset net ,income of distributions less ,)gain .year the for return total ,end the the follow must performance on information The .prescribed requirements unitholders and scheme of status Tax– 7 the ,any if ,terms general in state ,applicable Where unitholders the to consequences tax other or income .Lebanon in scheme the of . ً

Regulation Scheme Investment Collective – 8000 Series 64 مجموعة 8000 – النظام الخاص بهيئات الاستثمار الجماعي Operation of Conditions :V Heading offered units of Description– 1 units the of characteristics significant all Describe unit ,units income ,units accumulation :offered ,rights liquidation ,rights dividend eg (rights; classes these how); etc rights redemption ,rights voting which under conditions and exercized be may rights .modified be may characteristics these as limited is unitholder a of liability the that State .Regulation the in stated the including ,offered being units the Describe of method the and denomination of currency .(entry register ie (ownership the indicating unitholders to made be will that disclosure the State information of availability (made be will this when and reports annual CIS of distribution ,units of prices on .(reports form short CIS or accounts and where payable be will dividends dates what at State .relevant Value Asset Net– 2 net the calculate to used method the Describe including ,unit a of and scheme the of value asset other any and calculations the of frequency the as regulations these with accordance in information .custodian CIS the with agreed asset net the calculate to used method the Describe .Regulation the in defined as unit per value scheme the of value asset net the ,applicable if ,Give years financial completed three last the of end the at the unless ,prospectus CIS the of date the preceding .statements financial the in given is information Price– 3 ,scheme interval or scheme ended open an For per price the calculating of methodology the describe of redemption or subscription of purposes the for unit .units Redemptions and Subscriptions– 4 schemes all For .A is subscription minimum a if indicate ,applicable If .required units of value or number the and required be must unit a for price subscription the that Indicate the of units purchase to order an before up paid fully .fulfilled be can scheme of value minimum a where scheme new a of case the In describe ,subscribed be must units of million 10 US$ will subscribed money which to according terms the minimum that if subscribers to returned and kept be the of address and name the including ,reached not is .kept be will funds the where bank maximum the state ,scheme new a of case the In price fixed the and period offer initial the of period the circumstances what under stating ,period that for .terminated be may period offer price fixed

Regulation Scheme Investment Collective – 8000 Series 65 مجموعة 8000 – النظام الخاص بهيئات الاستثمار الجماعي by payable charges and fees of summary a Provide

follows as relevant as scheme the
rate or amount including description - charge of Type redemptions or subscriptions on
on payable Amounts
units for subscription .a scheme related a to units of transfer/exchange .b (‘switch(‘ units of redemption .c Services - Charges to directly paid fees to respect with payable Amounts
for unitholder the by manager CIS the
ownership of certificates obtaining .a scheme the into plans savings regular for charges any .b scheme the from plans withdrawal for charges any .c dividend eg -) descriptions insert (other any .d charges order wire ,charges reinvestment scheme interval or scheme ended open an For .B redemption and subscription for procedure the Explain where places including ,scheme the of units of .received are orders redemption and subscription redemption and s/charge subscription the Give per value asset net the of percentage a as /charge vary they where charges of rates ,applicable If .unit or subscriptions the of amount the on depending choice a have investors Where .redemptions the and charges subscription of types different between and detail in type each explain charges redemption the of investment on return on effect the indicate .made choice and subscription which in circumstances the State how and resumed or suspended be may redemption .eventuality an such in informed be will unitholders units in invest to intends that scheme a of case the In details give ,scheme investment collective another of charges subscription concerning agreement the of management annual and charges redemption and that in ,any if ,risks additional the Indicate .charges of ,appropriate if ,comparisons Give .scheme of type .charges the and Fees Other and Charges Management Annual– 5 Charges from made be may that payment of type each State the who :of details giving property scheme the rate the ,for is payment the what ,to made is payment and accrued be will it how ,available where amount or .paid be will it when its of examples ,taken is fee performance a Where fees lower when and how clearly stating ,operation stated the of underperformance for charged are additional when and how to addition in benchmark stated the of outperformance for paid are fees .benchmark

Regulation Scheme Investment Collective – 8000 Series 66 مجموعة 8000 – النظام الخاص بهيئات الاستثمار الجماعي the from made be to are payments whether State the of property capital the from or property income what by or proportion what in ,both from if or; scheme on payments these of effect the and payment of type .relevant as capital on or income annual the of calculation for used method the Give various the account into taking ,charge management accordance in information other any and components .Regulation the with management annual maximum permitted the State scheme the of document constituting the in charge how and charge management annual present the and .changed be will this if given be will notice operational the give ,offer initial an of case the in Except financial three last the of each for ratio expense of basis the to change a Where .scheme the of years the effect the indicate ,proposed is calculation this during ratio the on had have would change proposed to as explanation clear a Give .year financial last the will investors that so ratio expense operational the operational the of effect the explain and understand .investment on return the on ratio expense General :VI Heading Information– 1 the obtain may subscriber a where Indicate not is it if ,scheme the of document constituting .prospectus CIS the in included the of disclosure find may subscriber a where Indicate .scheme the of unit per price where indicate ,scheme ended closed a of case the In asset net the of disclosure find may subscriber the .unit per value Listing– 2 where ,so if ,and listed be will scheme the if Indicate be to are quotations the how and listed be will it .unitholders the by understood Termination– 3 scheme the how and circumstances what in Indicate .terminated be may fund-sub or interest of Conflicts :VII Heading interest of conflicts potential the of description a Give its and manager CIS the between arise could which all of management which to entity any ,associates its and delegated is portfolio s’scheme the of part or and associates their and custodian CIS the ,associates these how of ,applicable where ,details with scheme the .resolved be to going are commission advantageous any of description a Give CIS the by into entered be may which arrangements .scheme a of manager been has which party third any of name the Give ،ً

Regulation Scheme Investment Collective – 8000 Series 67 مجموعة 8000 – النظام الخاص بهيئات الاستثمار الجماعي its out carry to manager CIS the by contracted contracts the of provisions material give and; functions may which ,manager CIS the and parties third between to relating those excluding ,unitholders to relevant be .remuneration Signatures :VIII Heading equivalents or directors authorized appropriately Two the sign shall scheme the of manager CIS the of .prospectus information Other :IX Heading prospectus CIS of Date scheme the supervising Authority the of Name 4 EXHIBIT INFORMATION KEY THE IN CONTAINED BE TO INFORMATION SCHEME APPROVED AN FOR DOCUMENT scheme approved an of document information key The .information following the contain must fund-sub and 4A of sides two than longer be not shall document The understandable is it that so written be shall and paper information The .public the of member ordinary an by order the in disclosed be must disclosed be to required .given (case the is this if fundsub (structure legal scheme and scheme of Name– 1 manager CIS the of website and address and name The– 2 custodian CIS the of name The– 3 auditor the of name The– 4 any if ,expert independent appointed the of name The– 5 scheme the of objective investment the of Definition– 6 brief a and scheme the of policy investment The– 7 of categories to relating (profile risk its of assessment borrowing ,diversification ,invest will it which in asset (risk currency hedge to derivatives of use and most the for scheme the of performance Historical– 8 whichever launch since or years accounting five recent of indicator an not is this that warning a and shorter is performance future scheme the that investor typical the of profile brief A– 9 equity an for ,example an as :Note (for designed is seeking investor an to suited is fund this “fund growth their to risk accept to prepared is who growth capital (“term long to medium the for invest to and capital charge subscription any of amount maximum The–10 a as expressed unit a on charge redemption any and percentage a as charge management annual the of Amount– 11 percentage recent most the for ratio expense operating The–12

Regulation Scheme Investment Collective – 8000 Series 68 مجموعة 8000 – النظام الخاص بهيئات الاستثمار الجماعي s’year first the of estimate an or (year audited to note a with ,fund new a for ratio expense operating (estimate an is this that effect the and prospectus CIS the request on that statement A–13 form short CIS or accounts and reports annual CIS and charge of free obtained be may report annual obtained be may this where has that authority regulatory the of identity The–14 scheme the approved information key the of publication of date The–15 document 5 EXHIBIT SCHEME APPROVED AN OF VALUATION value shall fund-sub or scheme market money A– 1 cost amortized an on instruments market money .basis recently most the using valued be should Securities– 2 source reputable a from price market-mid available manager CIS the of independent prices market of ended open in units of prices of exception the with .schemes interval and schemes ended open in) units or shares (Participations– 3 the at valued be shall schemes interval and schemes charge redemption any less price single recent most most the at ,scheme priced dual a for and applicable .scheme that of price bid recent ended closed in) units or shares (Participations–4 valued be shall ,traded and listed are these if ,schemes .(2) by required as cash or nominal at valued be shall deposits and Cash– 5 .value which and scheme market money a not is that fundsub or scheme a by held instruments market Money– 6 average weighted the at valued be shall traded are the on traded was instrument that which at price .calculated is valuation the before day recent most appointed the by valued be shall estate Real– 7 .scheme the of expert independent scheme each of custodian CIS and manager CIS The– 8 the of document constituting the in out set shall there where used be to basis valuation the scheme this how and security a for price market recent no is .applied be shall

Regulation Scheme Investment Collective – 8000 Series 69 مجموعة 8000 – النظام الخاص بهيئات الاستثمار الجماعي EXEMPT AND APPROVED FOR REPORTING – 2 ANNEX SCHEMES ANNUAL CIS OF CONTENTS REQUIRED) – A (2 ANNEXE ACCOUNTS AND REPORT AUDITED alone-stand a for accounts and report annual CIS The scheme umbrella an of fund-sub each for and scheme following the include must scheme umbrella an and :stated order and categories the in ,information as period accounting annual the for accounts full The– 1 ;standards accepted by required include must which manager CIS the of report The– 2 ;fund-sub or scheme the of status and identity The .a CIS the ,manager CIS the of addresses and Names .b any and auditor the and any if registrar the ,custodian independent appointed any and adviser investment ;expert ;scheme the of status regulatory the of statement A .c ;fund-sub or scheme the of objective investment The .d ;objective investment that achieving for policy The .e the to relation in manager CIS the of duties The .f ;fund-sub or scheme the during activities investment the of review A .g a including relates report the which to period period the over portfolio the in changes of statement twenty largest and sales twenty largest the of either transactions all ,greater if ,or transactions purchase scheme the of value asset net of 1% over representing ;fund-sub or ratio expense operational the ,schemes approved For .h ;period reporting the for fund-sub or scheme each for fund-sub or scheme the to changes any of Particulars– 3 which relates report the which to period the during the are which or participants to notified been have ;meeting general a of resolution a of result enable would which information other Any– 4 the on judgement informed an make to participants ;period the during results and period the during fundsub or scheme the of activities the of development shall which fund-sub or scheme the of report The– 5 to regard with custodian CIS the of duties the include of assets of safekeeping of respect in and scheme the material any in whether statement a and scheme the restrictions and powers investment the respect been have fund-sub or scheme the to applicable or scheme ended open an to relation in ,and exceeded of redemption and sale the whether ,scheme interval the and units of price the of calculation the and units have income s’fund-sub or s’scheme the of application ;rules these with accordance in out carried been not investment the of breaches of list a with together the and Regulation the under limits borrowing and prospectus CIS and document constituting s’scheme ;period reporting the in

Regulation Scheme Investment Collective – 8000 Series 70 مجموعة 8000 – النظام الخاص بهيئات الاستثمار الجماعي lowest and highest the giving table comparative A– 6 fund-sub or scheme the in unit a of value asset net those of many as for or years five last the of each for existence in been has fund-sub or scheme the as years a for allocated or distributed income the; shorter if of each during fund-sub or scheme the in issue in unit scheme the of value asset net total the; years those the; years those of each of end the at fund-sub or each of unit per value asset net and units of number at fund-sub or scheme the in existence in class unit if ,and years those of each of end and beginning the any of subject the been has fund-sub or scheme the of size the on impact material a had has which event units of redemption and sale than other (scheme the changes any of and this of explanation an ,)cash for scheme the of objectives investment the in made took it which at time the to it relating , fund-sub or scheme ended closed a for ,this to addition In .place market lowest and highest the ,exchange an on listed also shall years five the of each during unit per price ;stated be operational the ,funds-sub or schemes approved For– 7 expenses audited annual the on based ratio expense ;(A2 Exhibit see (period accounting the in in whether state must which auditor the of report The– 8 :auditor the of opinion the in prepared properly been have accounts The .a ;standards accepted with accordance the of view fair and true a give accounts the Whether .b or scheme the of losses or gains net and income net question in period accounting annual the for fund-sub fund-sub or scheme the of position financial the and ;period the of end the at proper that opinion the of is auditor the Whether .c have fund-sub or scheme the for records accounting in not are accounts the whether or kept been not ;records those with agreement information the all given been has auditor the Whether .d knowledge his of best the to ,which explanations and ;audit his of purposes the for necessary are ,belief and and the that opinion the of is auditor the Whether .e for manager CIS the of report the in given information .accounts the with consistent is period the :audited The– 9 the for statement liability and asset or sheet Balance .a ;year financial the of day working last including (income showing return total of statement A .b and) income other and investments from income trustee ,charges management including (expenditure charges other ,charges custodian supervisory and the for losses or gains net and income net ,)taxes and ;year financial

Regulation Scheme Investment Collective – 8000 Series 71 مجموعة 8000 – النظام الخاص بهيئات الاستثمار الجماعي ،ً ,only schemes interval and schemes ended open For .c the for assets’ holders of movement of statement a asset net the in arising change the ie (year financial of sales to due year the over scheme the of value performance investment ,units of redemption ,units of retention and losses or gains capital of terms in affecting charges any and income of distributions any (fund-sub or scheme the of liabilities and assets on including notes explanatory supporting With .d .investments of depreciation or appreciation approved be must accounts and report annual CIS The– 10 .manager CIS the of directors two by signed and a ,new is fund-sub or scheme a when Except– 11 shall figures s’year previous the with comparison ,return total of statement the in shown be always and assets’ holders of movement of statement .sheet balance (A (2 EXHIBIT RATIO EXPENSE OPERATIONAL ANNUAL OF CALCULATION SCHEMES APPROVED FOR :Guidance costs total the of ratio the is ratio operational annual The net average the to fund-sub or scheme alone-stand a of in fund-sub or scheme alone-stand the of value asset It .calculated is ratio the which over year accounting the recent most the on based year a once calculated be shall subsequent a been has there If .year accounting annual management annual in increase an eg (change material .used be shall estimate an then) charge are ratio the of calculation in included be to costs The fund-sub or scheme alone-stand the by paid costs all performance and fee management annual any including( in scheme investment collective any upon paid fee out set are that) invests fund-sub or scheme the which with fund-sub or scheme the of prospectus CIS the in :of only exception the any or charges redemption and charges Subscription .a investor the by directly payable charge or commission ;fund-sub or scheme the in units sells or buys who ;borrowing on Interest .b necessarily costs meet to parties third to Payments .c for asset any of disposal or acquisition the in incurred ;portfolio s’scheme the .scheme the by payable Taxation .d :are disclosure this in covered be to costs Typical to; custodian CIS and manager CIS the to paid charges ;auditor the to; administrator party third or registrar any independent appointed the to; Board a’Shari the to fees legal and; cost license/fee regulatory any; expert .fund the by payable year audited recent most the for costs these of total The the of value asset net average the by divided be should period same the in fund-sub or scheme alone-stand for figure percentage a give to 100 by multiplied and .accounts and report annual CIS the in disclosure

Regulation Scheme Investment Collective – 8000 Series 72 مجموعة 8000 – النظام الخاص بهيئات الاستثمار الجماعي FOR REPORT ANNUAL FORM SHORT CIS) – B (2 ANNEX SCHEMES APPROVED :Guidance be must produced if reports annual CIS form Short annual CIS the as deadline same the within published following the contain must and accounts and report that with consistent be shall which information and accounts and report annual CIS the in contained .fundssub and schemes alone-stand for produced be may the in given be must required information The .stated order and categories or scheme alone-stand the about information Key– 1 investment and objectives investment its ,fund-sub the for details contact and name the including policy .custodian CIS and manager CIS in performance and activities investment of review A– 2 :including period the lowest and highest the giving table comparative a .a fund-sub or scheme the in unit a of value asset net those of many as for or years five last the of each for ;existence in been has scheme the as years issue in unit a for allocated or distributed income the .b ;years those of each during fund-sub or scheme the in at fund-sub or scheme the of value asset net total the .c ;years those of each of end the the in existence in class each of units of number the .d years those of each of end the at fund-sub or scheme subject the been has fund-sub or scheme the if ,and the on impact material a had has which event any of redemption and sale than other (scheme the of size any of and this of explanation an ,)cash for units of the of objectives investment the in made changes place took it which at time the to it relating ,scheme the ,exchange an on listed scheme ended closed a for .e each during unit per price market lowest and highest .stated be also shall years five the of to unitholder the for information Sufficient– 3 invested is fund-sub or scheme the where understand have that changes the and period the of end the at .this affected which period the in made been be would that information significant other Any– 4 informed an form to unitholder the enable to required scheme the of results and activities the on judgement changes material including (period the in fund-sub or report the of qualifications any ,)prospectus CIS the to in distribution any of particulars and ,auditor the by .period the annual CIS the of copy a obtain to how to as Details– 5 .accounts and report document standing-self a be must report form short The material publicity extraneous any contain not shall and to considered be also shall scheme umbrella an of fundssub all for prepared report a that exception the with .document standing-self a constitute ً ّ

Regulation Scheme Investment Collective – 8000 Series 73 مجموعة 8000 – النظام الخاص بهيئات الاستثمار الجماعي APPROVED FOR AUTHORITY THE TO REPORTING – 3 ANNEX SCHEMES EXEMPT AND the to report monthly a submit must manager CIS A under funds -sub and schemes the all on Authority the of day last the of days ten within management its .month monthly the in contained be to required information The
Annex this in out set is report
REPORTS MONTHLY OF CONTENTS REQUIRED AUTHORITY THE TO One Page - Report Monthly :manager CIS of Name– 1
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:report by covered Period– 2
[month calendar of day working last to first[ :report the submitting individual of Name– 3
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:report of Date– 4
.................................................................................................
:on reported s/fund of Names– 5
.................................................................................................
report the by covered period the during that confirm I in managed were/was] s/CIS of name insert [the Investment Collective the and 706 Law with compliance should which breaches no that and Regulation Schemes period the during Authority the to reported been have OR arisen have report the by covered period the during that confirm I managed not were/was] s/CIS of name insert [the Collective the and 706 Law with compliance in entirely breaches the that and Regulation Schemes Investment not have/been have which follows as were arose that .Authority the to reported been [breaches of list Insert[
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:report the submitting individual of Signature
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:signature of Date
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Regulation Scheme Investment Collective – 8000 Series 74 مجموعة 8000 – النظام الخاص بهيئات الاستثمار الجماعي
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Two Page - Report Monthly
USD IN VALUE - FUND
:on reported Month
[month calendar of day working last to first[ :on reported fund of Name
.................................................................................................
Current
Month
Previous
Month
Same
Month
Previous
Year working at as Data month the of day the of value asset Net fund 4 to (price unit Fund (places decimal month the for Data and Subscriptions redemptions (gross (total of Value in subscriptions period total of Value period in redemptions portfolio Fund assets of value Total purchased assets of value Total sold portfolio Total value total (turnover purchased assets of (sold and

Regulation Scheme Investment Collective – 8000 Series 75 مجموعة 8000 – النظام الخاص بهيئات الاستثمار الجماعي
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Three Page - Report Monthly
TRANSACTIONS INVESTMENT - FUND :on reported Month [month calendar of day working last to first[ :on reported fund of Name
.................................................................................................
month the for Data foreign and domestic between split require could :Note( (assets only Bonds purchased Assets of Name /security asset of Code security of No securities purchased of Price securities purchased Total value actiontrans of Rating Maturity Itemise asset each purchased during month Shares A Issuer B Issuer Bonds A Issuer B Issuer Money market instruments A Issuer B Issuer Deposits made A Bank B Bank estate Real A Plot B Building value Total assets of purchased

Regulation Scheme Investment Collective – 8000 Series 76 مجموعة 8000 – النظام الخاص بهيئات الاستثمار الجماعي
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only Bonds sold Assets of Name /security asset of Code security of No securities sold of Price securities sold Total value actiontrans of Rating Maturity Itemise asset each in sold month A Share A Issuer B Issuer B Bond A Issuer B Issuer Money market instruments A Issuer B Issuer Deposits A Bank B Bank estate Real A Plot B Building value Total assets of sold and purchases all of value total (turnover portfolio Total (sales all
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Regulation Scheme Investment Collective – 8000 Series 77 مجموعة 8000 – النظام الخاص بهيئات الاستثمار الجماعي
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Four Page - Report Monthly
PORTFOLIO - FUND
:on reported Month calendar of day working last to day working First[ [month :on reported fund of Name
.................................................................................................
month of date last at as fund by held Assets foreign and domestic between split require could :Note( (assets of Name asset of No securities held of Price security Total of value holding of Value holding as NAV of % fund of and Bonds market money only instruments Shares A Issuer B Issuer value Total shares of Nominal of value securities held of Price security Total of value holding of Value holding as NAV of % fund of rityMatu Rating Bonds A Issuer B Issuer value Total bonds of Nominal of value securities held of Price security Total of value holding of Value holding as NAV of % fund of Money market instruments value Total money of strumentsin market

Regulation Scheme Investment Collective – 8000 Series 78 مجموعة 8000 – النظام الخاص بهيئات الاستثمار الجماعي 100%
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.................................................................................................
Cash Deposits value
Total A/N of value holding of Value holding as NAV of % fund of value Total deposits of pendentInde tionvalua Total A/N of value holding of Value holding as NAV of % fund of estate Real value Total real of estate value Total mentsinvest of 100% bond of duration average weighted - only fund Bond [years [portfolio
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of duration average weighted - only fund market Money [days [portfolio instrument market money
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Regulation Scheme Investment Collective – 8000 Series 79 مجموعة 8000 – النظام الخاص بهيئات الاستثمار الجماعي
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Five Page - Report Monthly
MANAGER CIS OF CIS ALL
:on reported Month
[month calendar of day working last to first[
.................................................................................................
fund of value asset Net
Current
Month
Previous
Month
Same
Month
Previous
Year last at as Data the of day working month CIS Approved A Fund B Fund all of value Total CISs approved managed CIS Exempt C Fund D Fund all of value Total managed CISs exempt assets of value Total management under approved of value[ CIS exempt plus [managed

Regulation Scheme Investment Collective – 8000 Series 80 مجموعة 8000 – النظام الخاص بهيئات الاستثمار الجماعي AUTHORITY THE TO REPORTING – 4 ANNEX MONTHLY SCHEME FOREIGN INSTITUTION APPROVED REDEMPTIONS AND SUBSCRIPTIONS report monthly a submit must institution approved An to redemptions and subscriptions on Authority the to funds-sub foreign and schemes foreign the of each offer public a of context the in institution the by sold 1offer exempt or the of day last the of days ten within .month monthly the in contained be to required information The
4. Annex in out set is report
required are statistics redemption and Subscription alone-stand foreign every and each for stated be to the by sold be to able class unit fund-sub or scheme or whether report the completing institution approved made are redemptions or subscriptions not .concerned month the in be to funds-sub and schemes of categorization The be must report the of two page on used Morningstar Africa South and Asia/Europe Morningstar[ [2016 April Paper Methodology in given be should currency in given figures all :Note .USD INSTITUTION APPROVED OF CONTENTS REQUIRED AND SUBSCRIPTION MONTHLY SCHEME FOREIGN AUTHORITY THE TO REPORTS REDEMPTION One Page - Report Monthly :institution approved of Name– 1
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:report by covered Period– 2
[month calendar of day working last to first[ :report of Date– 3
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:report the submitting individual of Signature– 4
.................................................................................................
:signature of Date– 5
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]Morningstar Africa South and Asia / Europe Morningstar 2016 April Paper Methodology]
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2022. 14, June dated 83 announcement by added were terms These 1 1 أضيفت هذه العبارة بموجب الإعلام رقم 83 تاريخ 14 حزيران 2022

Regulation Scheme Investment Collective – 8000 Series 81 مجموعة 8000 – النظام الخاص بهيئات الاستثمار الجماعي Two Page - Report Monthly current USD value Total month previous USD value Total month month current Number /Schemes funds-sub of No ISIN share/unit class Redeemers Subscribers Redemptions Subscriptions Redemptions Subscriptions Category Approved foreign fundsub/scheme A CIS B fund-Sub for Total foreign approved schemes Foreign offer exempt fundsub/scheme A CIS B fund-Sub for Total foreign offer exempt schemes for Total foreign all /schemes funds-sub

Regulation Scheme Investment Collective – 8000 Series 82 مجموعة 8000 – النظام الخاص بهيئات الاستثمار الجماعي

Regulation on Collective Investment Schemes (8000 Series)

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