CTRL 3.3.2 Meaning of category A firm and category B firm

In these rules:

category A firm means an authorised firm that is incorporated under the Companies Regulations and is:

(a) a banking business firm (within the meaning given by BANK, rule 1.3.1);
(b) an Islamic banking business firm (within the meaning given by IBANK, rule 1.1.9);
(c) a QFC insurer (other than a QFC captive insurer); or
(d) a takaful entity (within the meaning given by PINS, rule 1.2.7).

category B firm means an authorised firm that is incorporated in the QFC but is not a category A firm.

 

Derived from QFCRA RM/2020-4 (as from 1st July 2021)