• PINS Part 6.5 PINS Part 6.5 Loans from a takaful fund

    Editorial changes (as from 1 January 2015).

    • PINS 6.5.1 Prohibition on making or attributing loans

      A takaful entity must not make or attribute any loans from a takaful fund it maintains to another takaful fund or to any other party, including but not limited to:

      (a) the takaful operator (the shareholder fund);
      (b) a person in a controlled function;
      (c) a participant (policyholder); and
      (d) a controller or person with close links to the takaful entity.
      Amended by QFCRA RM/2015-3 (as from 1st January 2016).