Islamic Financial Services Act 2013 · s 21

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s 21Form of establishment

(1)

Unless otherwise specified by the Bank, a person who is to be licensed under section 10 to carry on Islamic banking business or takaful business (other than a person who is to be a professional retakaful operator) shall be a public company.

(2)

The Bank may specify the form of establishment of—

(a)

a person who is to be licensed as a professional retakaful operator, or to carry on international Islamic banking business or international takaful business; or

Islamic Financial Services 65

(b)

a person who is to be approved under section 11 to carry on an approved business.