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BC-9.12.15

An Islamic bank licensee may only accept goods and services under a soft dollar agreement if:

(a) The goods and services do not constitute an inducement;
(b) The goods and services are reasonably expected to assist in the provision of regulated investment services to the Islamic bank licensee'scustomers;
(c) The agreement is a written agreement for the supply of goods or services described in Rule BC-9.12.14, and these goods and services do not take the form of, or include, cash or any other direct financial benefit; and
(d) The Islamic bank licensee makes adequate disclosures regarding the use of soft dollar agreements.
Amended: October 2015
Added: April 08