Islamic Financial Services Act 2013 · s 3

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s 3Prescription by Minister of additional business or activity

The Minister may, on the recommendation of the Bank, prescribe—

(a)

any business or activity as an addition to the definition of—

(i)

“Islamic banking business”;

(ii)

“international Islamic banking business”;

(iii)

“Islamic financial intermediation activities”;

(iv)

“Islamic factoring business”; or

(v)

“Islamic leasing business”,

Islamic Financial Services 47

and upon such prescription, the definition as added to shall be deemed to be an integral part of this Act as from the date of such prescription, or from such later date as may be specified in the order; and

(b)

any business, service or activity in relation to a financial service as an Islamic financial advisory business for the purposes of the definition of “Islamic financial advisory business” under subsection 2(1).