null Establishing a Foreign Fund Management Company
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.