Banking and Financial Institutions Act 1989 · As enacted · Part VI · Restrictions on Dealings of Licensed Institutions
Section 32
Official textFrom Laws of Malaysia Online, unchanged
Unless the Minister on the recommendation of the Bank otherwise prescribes, no licensed institution shall engage, whether on its own account or on a commission basis, and whether alone or with others, in wholesale or retail trade, including import and export trade, except in connection with the realisation of security given to or held by it for the purpose of carrying on its licensed business.
Minister
"Minister" means the Minister for the time being charged with the responsibility for finance;
The provisions of subsection (1) shall not apply to the purchasing or selling of gold or foreign currency by any licensed bank.
foreign currency
"foreign currency" means any currency other than Malaysian currency;
Terms defined in s 2
foreign currency
Defined · s 2"foreign currency" means any currency other than Malaysian currency;
licensed bank
Defined · s 2"licensed bank" means a bank licensed or deemed to be licensed under section 6 (4);
licensed business
Defined · s 2"licensed business" means a business licensed or deemed to be licensed under section 6 (4);
licensed institution
Defined · s 2"licensed institution" means any institution licensed or deemed to be licensed under section 6 (4);
Minister
Defined · s 2"Minister" means the Minister for the time being charged with the responsibility for finance;
Part VII
Financial Requirements and Duties of Licensed Institutions
Part VIII
Ownership, Control and Management of Licensed Institutions
Part IX
Restrictions on Business of Licensed Institutions
Part X
Powers of Supervision and Control Over Licensed Institutions
Part XI
Investigation, Search and Seizure
Part XII
Application of Parts X and XI to Non-Scheduled Institutions Engaged in Provision of Finance
Part XIII
Information and Secrecy
Part XIV
Offences
Part XV