Skip to content
mylaw.myby aturio
In forceUpdated to 2 Jan 2025Read it in Bahasa Malaysia
Contents

Part II · Regulatory Objecti Ves and Powers and Functi Ons of Bank

7. Powers and functions of Bank

(1)

The Bank shall exercise the powers and perform the functions under this Act in a way which it considers most appropriate for the purpose of meeting the regulatory objectives of this Act and the

Governor shall exercise such powers and perform such functions of the Bank on its behalf.

(2)

The powers and functions of the Bank under this Act are in addition to, and not in derogation of, the powers and functions of the Bank under the Central Bank of Malaysia Act 2009.

Islamic Financial Services 51

(3)

The Bank shall, from time to time, keep the Minister informed on matters relating to the exercise of its powers and performance of its functions under this Act.

(4)

The Bank may authorize a Deputy Governor or an officer of the

Bank to exercise any of its powers or perform any of its functions under this Act.

(5)

The Bank may establish and authorize a committee consisting of members as the Bank may determine for the purpose of exercising any of the powers or performing any of the functions of the Bank under this Act.

(6)

The Bank may, either generally or in a particular case, appoint a person, whether in or outside Malaysia, who is not an officer of the

Bank—

(a)

to render such assistance in the exercise of any of its powers or performance of any of its functions under this Act; or

(b)

to exercise any of its powers or perform any of its functions on behalf of and in the name of the Bank, as may be specified by the Bank.

Report

Part III

Authorization

Read on from Part III

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