СС 46 – Аль-Вакиля би Аль-Истисхмар (Инвестиционное агентство)

This Standard aims to explain the rules of Investment Agency applicable to Islamic financial institutions, the conditions for its validity, its types, its implications and its contemporary applications.

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 Investment Agency in various fields, or parts thereof, and the powers and responsibilities of the principal and the investment agent. It does not cover Agency in general or the acts of Uncommissioned Agent (Fodooli) as they are covered by Shari’ah Standard No. on Agency and the Acts of an Uncommissioned Agent (Fodooli). 2. Definition of Investment Agency and Its Permissibility