ISFI Glossary

(see r 1.1.2)

AAOIFI means the Accounting and Auditing Organisation for Islamic Financial Institutions.

authorisation means an authorisation granted under the Financial Services Regulations, part 5.

authorised firm (or firm) means a person that has an authorisation.

BANK means the Banking Business Prudential Rules 2014.

customer means a person to whom an Islamic financial institution provides, has provided or offers to provide a service or product.

INMA means the Investment Management and Advisory Rules 2014.

Islamic financial business has the meaning given by rule 1.2.1.

Islamic financial institution has the meaning given by rule 1.2.2.

Islamic window has the meaning given by rule 8.1.1.

month means calendar month — that is, the period beginning at the start of any day of one of the 12 named months of the year and ending:

(a) at the end of the day before the corresponding day on the next named month; or
(b) if there is no corresponding day — at the end of the last day of next named month.

QFC means Qatar Financial Centre.

Regulatory Authority means the Regulatory Authority of the QFC.

Shari'a supervisory board, of an authorised firm, means the board appointed for the firm under rule 6.1.1.

Amended by QFCRA RM/2019-4 (as from 1st January 2020).