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

Part III · Authorization

8. Authorized business to be carried on by authorized person

(1)

Subject to section 14, no person shall carry on any authorized business unless it is—

(a)

licensed by the Minister, on the recommendation of the

Bank, under section 10 to carry on Islamic banking

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business, takaful business, international Islamic banking business or international takaful business; or

(b)

approved by the Bank under section 11 to carry on any of the businesses set out in Part 1 of Schedule 1.

(2)

Paragraph (1)(b) shall not apply, in respect of Islamic financial advisory business, to persons set out in Part 2 of Schedule 1.

(3)

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

Report

Read on from s 9

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