• ISFI Chapter 1 ISFI Chapter 1 General provisions

    Amended by QFCRA RM/2012-3 (as from 1st February 2013)

    • ISFI Part 1.1 ISFI Part 1.1 Preliminary

      Amended by QFCRA RM/2012-3 (as from 1st February 2013)

      • ISFI 1.1.1 Name of rules

        These rules are the Islamic Finance Rules 2005 (or ISFI).

        Amended by QFCRA RM/2012-3 (as from 1st February 2013)

      • ISFI 1.1.2 Glossary

        The glossary at the end of these rules is part of these rules.

        Note 1 There are also relevant definitions in the INAP glossary. To assist the reader, the application of a definition in that glossary is usually indicated by the defined term's being in italics (other than bold italics) in these rules.

        Note 2 By contrast, the application of a definition in the glossary in these rules is not indicated by the defined term's being in italics.

        Note 3 For the application of definitions, see INAP, r 2.1.8 (Application of definitions).

        Note 4 A note on or to these rules is explanatory and is not part of the rules (see INAP, r 2.1.6 (1) and r 2.1.7).

        Note 5 However, examples and guidance are part of these rules (see INAP, r 2.1.4 (1) (b) and (2)).

        Note 6 An example is not exhaustive, and may extend, but does not limit, the meaning of these rules or the particular provision of these rules to which it relates (see INAP, r 2.1.5).

        Note 7 For the effect of guidance, see FSR, art 17 (4).

        Inserted by QFCRA RM/2012-3 (as from 1st February 2013)

    • ISFI Part 1.2 ISFI Part 1.2 Key concepts

      • ISFI 1.2.1 What is Islamic financial business?

        Islamic financial business is the business of carrying on 1 or more regulated activities in accordance with Shari'a.

        Inserted by QFCRA RM/2012-3 (as from 1st February 2013)

      • ISFI 1.2.2 ISFI 1.2.2 What is an Islamic financial institution?

        An Islamic financial institution is an authorised firm whose authorisation includes a condition that the whole of the firm's business must be conducted in accordance with Shari'a.

        Note For firms that conduct a part (but not the whole) of their business in accordance with Shari'a, see ch 8 (Islamic windows).

        Inserted by QFCRA RM/2012-3 (as from 1st February 2013)

        • ISFI 1.2.3 What is a profit sharing investment account (or PSIA)? [Deleted]

          Deleted by QFCRA RM/2014-3 (as from 1st January 2015)