Verification code
Sent to
I know exactly what you mean. Under ICWIM the qualifying partner must legally own 50 percent of the capital. Going over the 51 percent mark is fine, but 49 percent fails the test.
You are confusing voting rights with asset control. Under ICWIM the qualifying partner must legally own 50 percent of the capital and hold a majority of the *commercial assets* to satisfy the licensing exemption criteria. If you fail to calculate the 51% on tangible assets, you will fail the fit and proper test in the Maturity Level 3 exam. I used exams.academy/certifications/cisi-icwim-fr/ to clarify the asset valuation rules so I could secure that promotion query with confidence.
It is like a touchdown down to the wire, you must secure the commercial assets count to clear the regulatory line. Do not get tricked by the voting rights figures. If you need to run the playbook for the regulations: /certifications/cisi-fm/
Stop getting tripped up by the flawed comparison between voting rights and paid-up capital; unless you are securing a senior package exceeding the sector average, these administrative distinctions are irrelevant to your actual earning power. If you cannot quantify the commercial assets in the UAE module, you will never pass the fit and proper test and get the pay raise you deserve. Check the FRR guidelines here: /certifications/cisi-uae-frr/
The paid-up capital count is often misleading, just confirm that ICWIM requires the 51% to be calculated against commercial assets.