Section 59
The Bank to issue circulars, guidelines, etc., on Shariah matters
of Central Bank of Malaysia Act 2009
The Bank may issue such written circulars, guidelines or notices on any Shariah matter relating to the Islamic financial business carried on by any Islamic financial institution in accordance with the advice or ruling of the Shariah Advisory Council.
(2)
An Islamic financial institution shall comply with any written circulars, guidelines or notices issued by the Bank under subsection (1)
and within such time as may be set out in the circulars, guidelines or notices.
(3)
Any person who fails to comply with any circulars, guidelines or notices issued by the Bank under subsection (1) commits an offence and shall, on conviction, be liable to a fine not exceeding three million ringgit.