Malaysia legislation

Section 132

of LABUAN ISLAMIC FINANCIAL SERVICES AND SECURITIES ACT 2010

Section 132

The internal Syariah advisory board of an Islamic bank licensee, a takaful licensee, an Islamic securities licensee and, a fund manager regulated under Part IV, shall conduct an internal review of the business and operations of such Islamic bank licensee, takaful licensee, Islamic securities licensee and, fund manager regulated under Part IV, as the Authority may specify from time to time, for the purpose of ascertaining whether such business and operations are in compliance with Syariah principles.