SC invites public feedback on Consultation Paper on Additional Requirements for Islamic Unit Trust Funds

Kuala Lumpur, 14 August 2001

The unit trust industry and members of the public are invited to provide constructive feedback on the Securities Commission's (SC) Consultation Paper on Additional Requirements for Islamic Unit Trust Funds.

The Consultation Paper sets forth proposals for additional requirements relating to the administration and operation of Islamic unit trust funds, which are intended to further enhance the integrity and credibility of Islamic unit trust funds.

Towards this end, the proposed additional requirements include, among others, additional roles to be undertaken, not only by Syariah committees and consultants but also by members of investment committees, trustees and compliance officers. The proposed additional requirements are targeted for incorporation into the SC's Guidelines on Unit Trust Funds.

The proposed additional requirements for Islamic unit trusts are also intended to facilitate the introduction and promotion of a wider range of Islamic collective investment schemes, as outlined in the Capital Market Masterplan. This is to cater to investors who wish to invest in Islamic investment products and to achieve effective mobilisation of their funds.

Viewing the Consultation Paper
The consultation paper is available for viewing and downloading here in PDF format.

Submitting Comments
All comments are to be submitted in writing to the SC by 7 September 2001 through any of the following means:

E-mail: [email protected]

The Manager
Trusts and Investment Management Department
Securities Commission
3 Persiaran Bukit Kiara
50490 Kuala Lumpur


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