IFR 8.1.1

(a) This IFR 8 applies to an Authorised Person who carries on or holds itself out as carrying on (either as an Islamic Financial Institution or through an Islamic Window) insurance business or insurance intermediation in the form of Takaful.
(b) In addition to the requirements in this IFR 8, the requirements that apply to conventional insurance business or Insurance Intermediation shall apply to an Authorised Person that carries on or holds itself out as carrying on insurance business or Insurance Intermediation in the form of Takaful.