SS 24 - Синдицированное финансирование

The purpose of this standard is to highlight syndicated financing operations that take place either between Islamic financial Institutions (Institution/Institutions), or between these Institutions and conventional banks.

The word (Institution/Institutions) is used here to refer, in short, to Islamic financial institutions including Islamic Banks.

Scope of the Standard

This standard covers syndicated financing operations, whether those arranged among Institutions, or between them and conventional banks, and the Institution-agent relationships relating to such operations. 2. Definition of Syndicated Financing It refers to the participation of a group of institutions in a joint financing operation through one of the Shari’ah-compliant modes of financing. The accounts of the syndicated financing operation are kept independent from the accounts of the participating Institutions. 3. Projects Financed Through Syndication Syndicated financing should be channeled towards investment activities that are permissible in Shari’ah. It should not be totally or partially directed towards projects that encounter Shari’ah restriction or constitute Riba. 4. Modes of Providing Syndicated Financing to Customers Syndicated financing should be provided to customers through Shari’ah- compliant modes of financing, including the following: