Islamic Financial Services Act 2013 · s 222

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s 222Interpretation

For the purposes of this Division, “Islamic financial intermediation activities” includes—

(a)

the accepting of Islamic deposits or money under an investment account;

(b)

the giving of any advance, financing or other facility in whatever form or by whatever name called in accordance with Shariah;

(c)

Islamic leasing business;

(d)

Islamic factoring business;

(e)

the purchase of bills of exchange, certificates of Islamic deposit, Islamic securities or other negotiable instruments;

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(f)

the acceptance of, or the giving of any guarantee in relation to, liability, obligation or duty of any person;

(g)

Islamic hire-purchase;

(h)

acquiring rights or interests in an Islamic hire-purchase,

Islamic leasing or other similar transaction;

(i)

any activity that is incidental, ancillary or otherwise facilitates or is closely related to the activities referred to in paragraphs (a) to (h) above; and

(j)

such other business or activity as prescribed under section 3.