IBANK 10.2.5 Guidance

The Regulatory Authority expects the legal opinion to consider that, in many jurisdictions:

•    rahn (mortgage or other pledge of assets) is possessory in nature so as to make perfection a particularly difficult issue
•    bankruptcy laws, the concept of perfection and the priorities in the distribution of assets are not well developed.
Inserted by QFCRA RM/2017-1 (as from 1st April 2017).