• Category 5

    • PRU 1.3.7

      An Authorised Person is in Category 5 if it:

      (a) is an Islamic Financial Institution; and
      (b) Manages a Profit Sharing Invesment Account which is a PSIAu.

    • PRU 1.3.8 PRU 1.3.8

      Authorised Persons which carry out Regulated Activities other than and in addition to Islamic Financial Business will be required to comply with the relevant capital requirements which apply to those Regulated Activities.

      • Guidance

        Authorised Persons in Categories 1 to 4 may also carry out Islamic Financial Business, but only those Authorised Persons in Categories 1 or 5 may Manage a Profit Sharing Investment Account which is a PSIAu. They will not fall within Category 5 unless the whole of the business is conducted in accordance with Shari'a and they Manage a Profit Sharing Investment Account which is a PSIAu, carry on Islamic Financial Business or carry out Shari'a-compliant Regulated Activities.