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Consultation Paper 2012/03: Proposed Amendments - Islamic Finance Windows in the QFC
This consultation paper seeks comment on the Regulatory Authority's proposals to amend the Islamic Finance Rulebook such that authorised firms will be unable to conduct Islamic finance business through the operation of an Islamic window.
The proposals will mean that an authorised firm will only be able to hold itself out as conducting Islamic financial business when it is authorised as an Islamic financial institution.
This proposal is relevant for authorised firms who have an endorsement on their authorisation which allows them to operate an Islamic window or prospective firms seeking approval to do so.
Posted by Nadeen El Ajou
