| The Bermuda Monetary Authority (BMA) has released a set of guidelines outlining the regulatory requirements necessary for the establishment of Islamic investment funds in Bermuda, designed to promote understanding, compliance and investment levels.
In line with Bermuda's efforts to promote itself as a domicile of choice for Islamic financial products, the publication of these new Guidance Notes is intended to demonstrate that the jurisdiction's regulatory framework is capable of accommodating the funds. Published on April 28, the Notes follow a BMA review of Bermuda's fund regulation regime, which found no impediment to the authorization of Islamic investment funds under the existing framework..............................................Full Article: Source
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