Islamic Financial Services Act 2013 · s 94

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s 94Withdrawal from takaful funds

A licensed takaful operator shall not make any withdrawal from a takaful fund, whether from the surplus or otherwise of that takaful fund, unless—

(a)

it has complied with such requirements on withdrawals as may be specified by the Bank;

(b)

the withdrawal does not impair the sustainability of the takaful fund to meet its liabilities; and

(c)

the interests and fair treatment of takaful participants, including their reasonable expectations, have been given due regard.