MENA Asset Management Survey 2012 - National Bank of Abu Dhabi

Dubai International Financial Centre / Qatar Financial Centre
Exchange Traded Funds
Questions Dubai International Financial Centre
(DIFC)
What are the capital requirements for a The capital requirement for a fund promoter
fund promoter?
is the higher of $10k, or the Expense Based
Capital Minimum (depending on outcome of
Consultation Paper 83, a category 4 Fund
Promoter may also have a Professional
Indemnity Insurance requirement).
What are the capital requirements for a The capital requirements for a fund
Management Company?
management company are currently the
higher of the $500k Base Capital
requirement; the Expense Based Capital
Minimum; or the Capital Requirement for
Credit / Market Risk. This may change
depending on outcome of Consultation
Paper 83, where a category 3c Fund
Redomiciling
What are requirements / procedures
for a fund redomiciling into your
domicile ?
Supervision
Manager may be required to maintain
sufficient Professional Indemnity Insurance
and no longer be subject to the calculation
for the Capital requirement for Credit /
Market risk. A category 3c Fund Manager
could also be required to submit an Internal
Risk Assessment Process report to DFSA
annually.
As with new application, the licensing
process applies. Requirements vary
depending on whether Fund Manager
external or domestic cat 3 firm.
Qatar Financial Centre (QFC)
Category 4 firm – US$250,0000
Operator (Category 3) - US$500,000
Outline the risk management process The risk management process is based on A Firm and/or fund’s risk management
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