Prospectus - Manulife Insurance Berhad

chapter8 SHARIAH ADVISERpage478.1 Background InformationIBFIM has been appointed as the Shariah Adviser for the Manulife Shariah – Dana Ekuiti (“theFund”). Scheduled to meet the Manager and/or the Investment Committee of the Fund everyquarter, IBFIM will advise the Manager on the selection of investment tools to be adopted. IBFIMwill also counsel on the mechanism of the operations of the Fund’s activities to ensure that theoperations of the Fund comply with Shariah requirements.8.2 General Information of IBFIMIBFIM was incorporated as a company limited by guarantee and not having share capital inMalaysia under the Companies Act, 1965 on 15 February 2007.8.3 Experience in Advisory and ServicesIBFIM is registered with the SC to act as a Shariah Adviser for Shariah-compliant collectiveinvestment schemes and sukuk issuance. IBFIM is also involved in numerous Shariah-compliantprivate mandates as well as the Shariah Adviser for Islamic REITs and Islamic asset managementhouses.As at 30 September 2012, IBFIM has total staff strength of 62 employees, and has 60 fundsunder its supervision.8.4 Roles and Responsibilities of IBFIM as the Shariah AdviserAs the Shariah Adviser, the role of IBFIM is to ensure that the operations and investments ofthe Fund are in compliance with Shariah requirements. The Shariah Adviser reviews the Fund’sinvestments on a monthly basis to ensure compliance with Shariah requirements at all times andmeets with the Manager on a quarterly basis to review and advise on the Fund’s compliancewith Shariah requirements. Final responsibility for ensuring Shariah compliance of the Fund withShariah requirements in all relevant aspects rests solely with the Manager.In line with the Securities Commission (“SC”) Guidelines, the roles of IBFIM as the Shariah Adviser are;1. ensuring that the Shariah-compliant unit trust fund (“the Fund”) is managed andadministered in accordance with the Shariah principles;2. providing expertise and guidance for the Fund in all matters relating to Shariah principles,including on the Fund’s deed and information memorandum, its structure and investmentprocess, and other operational and administrative matters;3. consulting the SC who may consult the Shariah Advisory Council where there is any ambiguityor uncertainty as to an investment, instrument, system, procedure and/or process;Prospectus in respect of the Manulife Shariah - Dana Ekuiti