Takaful Business

A Regulated Activity defined in paragraph 24 of Schedule 1 of the GEN.

Takaful Contract

Any Contract of Insurance which is Shari’ah-compliant and is either a Family Takaful Contract or a General Takaful Contract.

Takaful Fund

Has the meaning given in TRR 1.1.5 (2).

Takaful Liabilities

Liabilities of a Takaful Operator arising out of its General Takaful Business and Family Takaful Business.

Takaful Operator

Has the meaning given in TRR 1.1.5 (1).

Takaful Risk Requirement

The capital component identified in 2.3 (Takaful Risk Requirement) of TRR Schedule 5 (Calculation of Prescribed Capital Requirement (PCR)).

Takeover

A takeover or merger transaction however effected, including schemes of arrangements which have similar commercial effect to takeovers and mergers, partial bids, bid by a parent company for shares in its subsidiary and (where appropriate) share repurchases by general bid.

Takeover Offer

A public offer (other than by the offeree company itself) made to the holders of the Securities of a company to acquire all or some of those Securities, whether mandatory or voluntary, which follows or has as its objective the acquisition of control of the offeree company.

Takeover Principles

Principles prescribed by the AFSA pursuant to section 88(1)(b) of the Framework Regulations.

Takeover Rules

Rules prescribed by the AFSA pursuant to section 88(1)(a) of the Framework Regulations.

Testing FinTech Activities

The activity as defined in paragraph 2.2.1 of FINTECH

Third Party Account Provider

In relation to a Client Money Account or a Client Investment Account, means an Authorised Firm or Regulated Financial Institution (including a bank, custodian, intermediate broker, settlement agent, clearing house, exchange and/or "over the counter" counterparty) that is a separate legal entity from the Authorised Firm that is required under COB to establish the Client Money Account or Clienet Investment Account.

Tier 1 Capital

Has the meaning given in BBR 4.13.

Tier 1 Capital

The components of capital identified at paragraph 3 (Components of Tier 1 Capital) of PINS Schedule 3 (Calculation of Eligible capital)

The components of capital identified at paragraph 3 of TRR Schedule 3 (Calculation of Eligible capital).

Tier 2 Capital

Has the meaning given in BBR 4.18

Tier 2 Capital

The components of capital identified at paragraph 4 (Components of Tier 2 Capital) of PINS Schedule 3 (Calculation of Eligible capital).

The components of capital identified at paragraph 4 of TRR Schedule 3 (Calculation of Eligible capital).

Trading Book

Has the meaning given in BBR 6.2.

Transaction

Any transaction undertaken by an Authorised Firm in the course of carrying on a Financial Service in or from the AIFC.

Transaction Services for Decentralised Private Ecurrencies (also known as Mining)

Validation and adding transactions made with a Decentralised Private Ecurrencies to the ledger of all transactions.