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LR-1.3.4

For the purposes of Rule LR-1.3.1, carrying on a regulated Islamic banking service by way of business means:

(a) Undertaking for commercial gain, at a minimum, either or both of the activities of accepting Shari'a money placements/deposits and managing Shari'a profit-sharing investment accounts, together with the activity of offering Shari'a financing contracts; in addition, any of the remaining activities specified in Rule LR-1.3.1 may also be undertaken;
(b) Holding oneself out as willing and able to engage in such activities; or
(c) Regularly soliciting other persons to engage in transactions constituting such activities.
Amended October 2010
October 2007