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

Part III · Authorization

16. Licensed takaful operator to carry on family takaful or general takaful business

(1)

A licensed takaful operator, other than a licensed professional retakaful operator, shall not carry on both family takaful business and general takaful business.

(2)

Notwithstanding subsection (1), a licensed family takaful operator may carry on the general takaful business relating to medical by reason of disease or sickness or medical expenses subject to such requirements and conditions as may be specified by the Bank.

(3)

Any licensed takaful operator who contravenes subsection (1)

commits an offence and shall, on conviction, be liable to imprisonment for a term not exceeding eight years or to a fine not exceeding twenty-five million ringgit or to both.

Report

Read on from s 17

Part IV

Shariah Requirements

Read on from Part IV

Part V

Payment Systems

Read on from Part V

Part VI

Prudential Requirements

Read on from Part VI

Part VII

Ownership, Control and Transfer of Business

Read on from Part VII

Part VIII

Financial Groups

Read on from Part VIII

Part VI

Part VI—

Read on from Part VI

Part IX

Business Conduct and Consumer Protection

Read on from Part IX

Part X

Islamic Money Market and Islamic Foreign Exchange Market

Read on from Part X

Part XI

Submission of Document or Information

Read on from Part XI

Part XII

Examination

Read on from Part XII

Part XIII

Directions of Compliance

Read on from Part XIII

Part XIV

Intervention and Remedial Action

Read on from Part XIV

Part XV

Other Powers of Bank

Read on from Part XV

Part XVI

Enforcement and Penalties

Read on from Part XVI

Part XVII

General Provisions

Read on from Part XVII

Part XVIII

Repeal, Savings and Transitional

Read on from Part XVIII

Schedules