IMEB 2.2.2 Firms must have minimum capital and assets
(1) A firm must have at all times a paid-up share capital of at least—
(a) for a captive insurance manager that is not also an insurance intermediary — QR180,000;
(b) for an insurance intermediary that is not permitted to hold client money — QR900,000; or
(c) for an insurance intermediary that is permitted to hold client money — QR1.8 million.
(2) A firm must also ensure that it has at all times a net asset value of at least 50% of the paid-up share capital that it is required to have under subrule (1).
|Amended by QFCRA RM/2015-1 (as from 1st July 2015).|