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  • Dealing in Shari'a-Compliant Financial Instruments as Principal

    • LR-1.3.19

      Dealing in Shari'a-compliant financial instruments as principal means buying, selling, subscribing for or underwriting any Shari'a-compliant financial instrument on own account.

      October 2007

    • LR-1.3.20

      Rule LR-1.3.19 includes the underwriting of equity and other financial instruments. It also includes the temporary sale of a financial instrument through a repo transaction.

      October 2007

    • LR-1.3.21

      A person does not carry on an activity specified in Rule LR-1.3.19 if the activity relates to the person issuing his own financial instrument.

      October 2007