Section 28 — MALAYSIA DEPOSIT INSURANCE CORPORATION ACT 2011

(a)

an Islamic deposit insurance fund which shall comprise—

(i)

all premiums received by the Corporation under this

Act; and

(ii)

all other monies or assets which may in any manner become lawfully payable to, received by or vested in the Corporation relating to any matter incidental to its powers, duties and functions, in respect of Islamic deposits;

(b)

a conventional deposit insurance fund which shall comprise—

(i)

all premiums received by the Corporation under this

Act; and

(ii)

all other monies or assets which may in any manner become lawfully payable to, received by or vested in the Corporation relating to any matter incidental to its powers, duties and functions, in respect of conventional deposits;

(c)

a family takaful protection fund which shall comprise—

(i)

all levies received by the Corporation under this Act;

and

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(ii)

all other monies or assets which may in any manner become lawfully payable to, received by or vested in the Corporation relating to any matter incidental to its powers, duties and functions, in respect of family takaful certificates;

(d)

a general takaful protection fund which shall comprise—

(i)

all levies received by the Corporation under this Act;

and

(ii)

all other monies or assets which may in any manner become lawfully payable to, received by or vested in the Corporation relating to any matter incidental to its powers, duties and functions, in respect of general takaful certificates;

(e)

a life insurance protection fund which shall comprise—

(i)

all levies received by the Corporation under this Act;

and

(ii)

all other monies or assets which may in any manner become lawfully payable to, received by or vested in the Corporation relating to any matter incidental to its powers, duties and functions, in respect of life policies; and

(f)

a general insurance protection fund which shall comprise—

(i)

all levies received by the Corporation under this Act;

and

(ii)

all other monies or assets which may in any manner become lawfully payable to, received by or vested in the Corporation relating to any matter incidental to its powers, duties and functions,

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in respect of general policies.

(2)

The Corporation is empowered to credit all direct operating income to, and charge all expenses, costs and losses against the relevant particular fund or funds, and where such expenses, costs or losses cannot be specifically attributed to a particular fund or funds, such charge—

(a)

shall be allocated among the funds in accordance with a formula prescribed by the Corporation; or

(b)

if the Corporation has not prescribed a formula, shall be allocated among the funds in proportion to the amount of

Islamic and conventional premiums and levies collected in the assessment year prior to the year in which such credit or charge is made.

(3)

The Corporation is empowered to transfer monies or assets from any of the funds to another fund, as may be necessary for or in connection with, or reasonably incidental to, the furtherance of its objects, the performance of its functions or the discharge of its duties, and subject to such conditions as the Corporation may specify.

Lending of money or provision of financing to Corporation