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  • HC-10.9 Islamic Investment Firm Licensees

    • HC-10.9.1

      Companies which refer to themselves as "Islamic" should follow the principles of Islamic Shari'a.

      January 2011

    • Governance and Disclosure per Shari'a Principles

      • HC-10.9.2

        Islamic investment firm licensees which are guided by the principles of Islamic Shari'a have additional responsibilities to their stakeholders. Investment firm licensees which refer to themselves as "Islamic" are subject to additional governance requirements and disclosures to provide assurance to stakeholders that they are following Shari'a Principles. In ensuring compliance with Shari'a principles, each Islamic investment firm licensee should appoint a minimum of one Shari'a advisor or scholar to verify that their operations are Shari'a compliant.

        Amended: October 2014
        January 2011

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