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CA-8.4.6

For purposes of Paragraph CA-8.4.4, earmarked assets must meet the following criteria:

(a) Availability: the asset is available and can be called on demand to meet any liquidity requirement where a Qard Hassan may be extended (see Section CA-8.4A);
(b) Permanency: the asset is not callable and cannot be withdrawn;
(c) Free of encumbrances: the asset is free of any encumbrances or mandatory payments; and
(d) Highly liquid: the asset must be readily convertible to cash equivalent to a minimum of 90% of its reported value on the shareholder's fund statement of financial condition.
Amended: April 2014
Amended: October 2008
Amended: January 2007