CIU-A.1.4
Past version: Effective from 01 Apr 2022 to 30 Sep 2022
To view other versions open the versions tab on the right
The following are excluded from the definition of
a) A contract of insurance, insurance linked investment products or investments managed as part of a takaful contract;
b) Unrestricted investment accounts offered by Islamic bank licensees;
c) Unilateral arrangements for a licensee to hold or manage assets on a discretionary or non-discretionary basis;
d) Arrangements entirely between bodies corporate who are members of the same group, or entirely between family members or between the corporate body and its own shareholders;
e) Pension, annuity and other employee benefit schemes organised and managed for the benefit of employees or for another corporate body;
f) Structured products which do not represent collective pooling interests under a pre-defined investment policy;
g) Cash savings schemes;
h) Exchange traded funds which are listed securities offered through brokers /broker platforms;
i) Equity-based and financing-based crowdfunding offers;
j) Securities issued by Special Purpose Vehicles in connection with direct participation of CIU participants into private equity;
k) Securities issuance by Special Purpose Vehicles as part of a securitisation of structure including sukuk; and
l) The issue of securities and raising of capital by companies publicly or through private placements for the purpose of raising capital for financing the operations of the company which fall under the CBB Rulebook – Volume 6, Offering of Securities Module (Module OFS).
Added: April 2022