Malaysia legislation
Section 33N
Section 33N
(a)
if the prescribed institution fails to appoint a person under subsection 33M(1);
(b)
in addition to the person appointed under subsection 33M(1); or
(c)
under any other circumstances as the Bank deems appropriate for the purposes of compliance with Shariah by the prescribed institution, and the remuneration and expenses relating to such appointment shall be borne by the prescribed institution.
(2)
The person appointed under subsection (1) shall have such functions and duties as may be specified by the Bank and shall submit a report to the Bank on the audit carried out pursuant to this section.
(3)
The person appointed under subsection (1) shall not be liable for a breach of duty of confidentiality between such person and the prescribed institution in respect of matters reported to the Bank pursuant to an audit on Shariah compliance under this section.
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