• IBANK 9.2.2 IBANK 9.2.2 Financial Group Capital Requirement and Resources

    (1) An Islamic banking business firm must ensure, at all times, that its financial group capital resources exceed its financial group capital requirement.
    (2) In calculating its financial group capital resources, the firm must not include capital resources or adjusted capital resources (as the case may be) of subsidiaries or participations of that group to the extent that those capital resources or adjusted capital resources exceed the capital requirement for that subsidiary or participation and are not freely transferable within the group.
    Derived from QFCRA RM/2015-2 (as from 1st January 2016).

    • IBANK 9.2.2 Guidance

      1 Capital resources or adjusted capital resources would not be freely transferable if they are subject to an obligation to maintain minimum capital requirements to comply with domestic solvency requirements, or to comply with debt covenants.
      2 If an Islamic banking business firm breaches rule 9.2.2(1), the Regulatory Authority would take into account the circumstances of the case, including any remedial steps taken by another regulator or the firm, in deciding what enforcement action to take.
      Derived from QFCRA RM/2015-2 (as from 1st January 2016).