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Location: Central Bank of Bahrain Volume 6—Capital Markets > Archive > Part A > Collective Investment Undertakings > CIU — Collective Investment Undertakings > CIU-6 Shari'a Compliant CIUs > CIU-6.1 Additional Requirements > Shari'a Advisers
  • Shari'a Advisers

    • CIU-6.1.4

      The operatorG of CIUsG defined in Rule CIU-6.1.1 must appoint two or more Shari'a Advisers and ensure that:

      (a) Appointments, dismissals or other changes in respect of members of the Shari'a Advisers are approved by the governing body of the CIUG (i.e. its directors or trustees, as appropriate);
      (b) The Shari'a Advisers are independent of the CIU and its operatorG — amongst other things, no Shari'a Adviser should be a director, trustee or controller of the CIUG or its operatorG ;
      (c) The Shari'a Advisers selected are suitably qualified and experienced for their role; and
      (d) The Shari'a Advisers are given sufficient resources and access to information and personnel in order to undertake effectively their role as Shari'a Advisers to the CIUG .

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