Establishing a Foreign Fund Management Company

14 Jun 2013 | Friday

The MIFC is offering Islamic Fund Management licences to financial institutions wishing to conduct Islamic fund management business in ringgit and non-ringgit in Malaysia.
 
Conditions for Establishment

A foreign Islamic fund management company under a special scheme is subject to the following conditions:

• Up to 100% foreign equity ownership.
• Comply with the licensing requirements under the securities laws and the Licensing Handbook prior to commencing its fund management activities.

Management of Funds (Scope of Business)

A foreign Islamic fund management company under the special scheme is allowed to participate in the activities listed here:

• Manage funds sourced from within or outside Malaysia.
• Establish and distribute unit trust funds.
• Manage retail and institutional investors.