IBANK 8.4.50 Use of funding facility from parent entity

The Regulatory Authority may allow an Islamic banking business firm that is a branch, or is a subsidiary of an entity established outside the QFC, to recognise, as cash inflow, access to its parent entity's funds by way of a committed funding facility, up to a limit specified in the facility documentation. The facility:

(a) must be an irrevocable commitment; and
(b) must be appropriately documented.
Inserted by QFCRA RM/2018-2 (as from 1st May 2018).