INMA 9.1.4 PSIA managers’ responsibilities
(1) An Islamic INMA firm that manages restricted PSIAs must warn a prospective IAH in writing that:
(a) the IAH bears the risk of loss to the extent of the IAH’s investment; and
(b) the IAH would not be able recover that loss from the firm, except in case of negligence, misconduct or breach of contract on the part of the firm.
(2) In accordance with AAOIFI FAS 11, such a firm must maintain adequate provisions and reserves against equity and assets.
|Derived from QFCRA RM/2014-4 (as from 1st January 2015).|