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  • Dealing in Shari'a compliant financial instruments as agent

    • LR-1.3.22

      Dealing in Shari'a compliant financial instruments as agent means buying, selling, subscribing for or underwriting Shari'a compliant financial instruments on behalf of a client.

    • LR-1.3.23

      A licensee that carries on an activity of the kind specified by Rule LR-1.3.22 does not determine the terms of the transaction and does not use its own financial resources for the purpose of funding the transaction. Such a licensee may however receive or hold assets in connection with the transaction, in its capacity as agent of its client.