Islamic Financial Services Act 2013 · s 59

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s 59Single counterparty exposure limit for licensed person

(1)

No licensed person shall have an exposure to a single counterparty which exceeds the limit as may be specified by the

Bank under subsection 57(1).

(2)

An exposure to a single counterparty referred to in subsection (1)

shall include an exposure to any group of persons connected to such single counterparty but shall not include any exposure to, and any exposure explicitly guaranteed by, the Bank or the

Government.

(3)

For the purposes of this section, the Bank may specify what constitutes “connected”, “counterparty” or “exposure”.