Islamic Financial Services Act 2013 · s 6

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s 6Regulatory objectives

The principal regulatory objectives of this Act are to promote financial stability and compliance with Shariah and in pursuing these objectives, the Bank shall—

(a)

foster—

(i)

the safety and soundness of Islamic financial institutions;

(ii)

the integrity and orderly functioning of the Islamic money market and Islamic foreign exchange market;

(iii)

safe, efficient and reliable payment systems and

Islamic payment instruments; and

(iv)

fair, responsible and professional business conduct of Islamic financial institutions; and

(b)

strive to protect the rights and interests of consumers of

Islamic financial services and products.