Section 6
Authorization to sign the Agreement and to become a member of the Board
of Islamic Financial Services Board Act 2002
The Bank is authorized to sign and accept the Agreement and to become a full member of the Board and to exercise rights or perform duties or functions in respect of its membership.
8
(2)
Without prejudice to the generality of subsection (1), the
Bank may—
(a)
pay such membership fee to the Board as may be determined from time to time under the Agreement;
(b)
grant, donate, loan or advance any sum of money or make such other payments to the Board under any Islamic principle as may be necessary for the establishment of the Board;
(c)
lease to the Board or lawfully permit the Board to occupy and use the immovable property of the Bank with or without charge for the purposes of the Board or for the provision of residences for the Secretary General or other members of the Secretariat;
(d)
accept any payment made to it by the Board; and
(e)
exercise such powers or functions conferred, or such duties imposed, on it by or under the Agreement.
(3)
The powers of the Bank under this Act shall be in addition to the powers of the Bank under the Central Bank of Malaysia Act 1958 [Act 519].