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Article (8) – Investment Outsourced Activities

IA-BOD-RES 26/2014 Effective from 28/12/2014

The Company is entitled to engage with a third party inside the UAE to execute and manage its investment policy, provided that:

  1. The policies, procedures and limits for the outsourced party must meet the same objectives of the Company’s investment policies and procedures approved by its Board of Directors.
     
  2. The arrangements for outsourcing the investment activities to the third party are in compliance with supervisory expectations specified by the Authority.
     
  3. The Company is responsible for the management of investment activities with an authorized third party.
     
  4. The Company provides the Authority with a copy of the agreement with the third party and any amendments thereto and any other requirements as requested by the Authority.
     
  5. Further guidance on investment outsourced activities in Addendum (5) of the regulations herein shall be applied.