Section 59

the Post Office Savings Bank established under the provisions of the Post Office Savings Bank Ordinance, 1948 of the States of Malaya or Post Office Savings Bank Ordinance of Sarawak;

any business of pawnbroking carried on by a person licensed under any written law relating to pawnbrokers for the time being in force in the Federation; and

any borrowing company licensed under the Borrowing Companies Act, 1969;

The Minister may on the recommendation of the Central Bank, exempt any business prescribed to be banking business under section 2 on such terms and conditions as may be imposed.