Malaysia legislation
Section 90
of LABUAN ISLAMIC FINANCIAL SERVICES AND SECURITIES ACT 2010
Section 90
(2)
No Labuan takaful underwriting manager shall provide underwriting services to any person not licensed under this Act or to any business carried on by a takaful operator registered under the *Takaful Act 1984.
(3)
A licensed Labuan takaful broker may handle the takaful or retakaful of domestic takaful business, transacted in the
Malaysian currency provided that such activity does not include any activity that is regulated or prohibited under other written law in Malaysia.
(4)
Every Labuan takaful manager or Labuan takaful underwriting manager who acts on behalf of a Labuan takaful operator shall maintain its own funds separate from the funds of the Labuan takaful operator and shall not apply the funds of such Labuan takaful operator to meet any of its expenses or liabilities other than in respect of the Labuan takaful business.
List of Labuan takaful operators to be supplied by Labuan takaful manager and Labuan takaful underwriting manager