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-1.3.17B

Managing a Restricted 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 where the customer imposes certain restrictions as to where, how and for what purpose the funds should be invested. Such assets and liabilities relating to the equity of restricted investment account holders shall be treated separately from the bank's assets and liabilities (see AAOIFI Standard FAS6).

Added: July 2012
 Versions
(1 Version)
 
Jul 1 2012 onwards
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