• IBANK Division 6.7.F IBANK Division 6.7.F Service-Based Contracts

    • IBANK 6.7.11 Treatment of Wakalah

      (1) If a wakalah contract is in relation to a private commercial enterprise to undertake trading activities in foreign exchange, shares or commodities, the capital charge depends on the underlying asset as set out in Chapter 6.
      (2) If the contract is in relation to a placement in the interbank market, there is no capital charge except if the funds are invested in foreign exchange. The capital charge for a wakalah contract where the funds are invested in foreign exchange is that calculated in accordance with Part 6.2 (foreign exchange risk).
      Derived from QFCRA RM/2015-2 (as from 1st January 2016).