CBB Volume 2: Contents

Central Bank of Bahrain Volume 2—Islamic Banks
Part A
High Level Standards
LR Licensing Requirements
LR-1 Requirement to Hold a License
LR-1.3 Definition of Regulated Islamic Banking Services
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LR-1.3.17A

Managing an Unrestricted Shari'a profit-sharing investment account is defined as managing an account, portfolio or fund, whereby a sum of money is placed with the service provider on terms that a return will be made according to an agreed Shari'a-compliant profit-sharing arrangement, such as a mudaraba or musharaka partnership without the customer laying down any restrictions as to where, how and for what purpose the funds should be invested. Such equity of unrestricted investment account holders shall be recorded in the books of the bank (see AAOIFI Standard FAS6).

Amended: July 2012
October 2007
 Versions
(2 Versions)
 
Apr 1 2008 - Jun 30 2012Jul 1 2012 onwards
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