Article 4-1. Islamic Investment Funds The Law on Investment and Venture Funds

Home / RLA / Article 4-1. Islamic Investment Funds The Law on Investment and Venture Funds

1. An Islamic investment fund is a joint-stock investment fund or a closed-end mutual investment fund that invests the fund's assets in compliance with the principles of Islamic finance.

2. The duties of the representative of holders of Islamic securities of Islamic investment funds are performed by the custodian.

3. The investment declaration of an Islamic investment fund must comply with the principles of Islamic finance and be coordinated with the Council on the Principles of Islamic Finance.

The Law of the Republic of Kazakhstan dated July 7, 2004 No. 576.

This Law defines the legal status, specifics of the creation, operation, reorganization and liquidation of a joint-stock investment fund, the conditions and procedure for the creation, operation and termination of a mutual investment fund, the specifics of the legal status and activities of venture funds in the Republic of Kazakhstan, regulates relations related to the activities of professional securities market participants to ensure the functioning of investment funds, and It also defines the procedure for state regulation of investment funds.

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