IBANK 8.3.6 Funding strategy
(1) An Islamic banking business firm:
(a) must develop and document a 3-yearly funding strategy;
(b) must maintain a continuing presence in its chosen funding markets;
(c) must maintain strong relationships with funds providers; and
(d) must regularly estimate its capacity to raise funds quickly.
(2) The firm must identify the main factors that affect its ability to raise funds, and must monitor those factors closely to ensure that its estimates of its fund-raising capacity remain valid.
(3) The strategy must be approved by the firm's governing body, and must be supported by robust assumptions in line with the firm's liquidity management strategy and business objectives.
(4) The funding strategy must be reviewed at least annually, and must be updated as necessary in light of changed funding conditions or changes in the firm's business model.
(5) The firm must give a copy of the funding strategy to the Regulatory Authority on request. The firm must also inform the Authority of any significant change to the strategy.
|Inserted by QFCRA RM/2018-2 (as from 1st May 2018).|