Guidance

This chapter contains additional requirements that apply to investment funds operated or held out as being operated as an Islamic Investment Fund. A Collective Investment Scheme is defined in the Master Glossary of the AIFC Regulations and Rules. Specific products or activities forming part of Islamic Financial Business are not regulated as Collective Investment Schemes (CIS) due to their unique characteristics and the specific regulations applied to them. Hence, such Islamic Financial Business activities are expressly excluded from the remit of these rules. Key Islamic Financial Business-related exclusions under the collective investment regime are operating a Takaful business, participation rights evidenced by Sukuk certificates and managing PSIAs both Restricted and Unrestricted.