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In forceUpdated to 2 Jan 2025Read it in Bahasa Malaysia
Contents

Part IX · Business Conduct and Consumer Protection

136. Prohibited business conduct

(1)

A financial service provider shall not engage in any prohibited business conduct set out in Schedule 7.

(2)

Without limiting the generality of section 277, the Bank may issue guidance in writing on—

(a)

descriptions of conduct which amount to; or

(b)

factors that are to be taken into account in determining whether a financial service provider has engaged in, any prohibited business conduct set out in Schedule 7.

(3)

Where the Bank issues guidance relating to prohibited business conduct set out in paragraphs 5 and 6 of Schedule 7, such guidance shall be issued in consultation with the Competition Commission.

(4)

Any person who contravenes subsection (1) commits an offence and shall, on conviction, be liable to imprisonment for a term not exceeding five years or to a fine not exceeding ten million ringgit or to both.

(5)

In relation to any complaint from an aggrieved person involving the prohibited business conduct set out in paragraphs 5 and 6 of Schedule 7, the Bank shall refer such complaint to the

Competition Commission.

Approved takaful broker, approved Islamic financial adviser and approved issuer of designated Islamic payment instrument to establish customer account

Report

Part X

Islamic Money Market and Islamic Foreign Exchange Market

Part XI

Submission of Document or Information

Part XII

Examination

Part XIII

Directions of Compliance

Part XIV

Intervention and Remedial Action

Part XV

Other Powers of Bank

Part XVI

Enforcement and Penalties

Part XVII

General Provisions

Part XVIII

Repeal, Savings and Transitional

Schedules