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mylaw.myby aturio
In forceUpdated to 1 Nov 2020Read it in Bahasa Malaysia
Contents

Part VII · Islamic Financial Business

59. The Bank to issue circulars, guidelines, etc., on Shariah matters

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(1)

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.

Report

Read on from s 60

Part VIII

Currency

Read on from Part VIII

Part IX

Foreign Reserves

Read on from Part IX

Part X

Relations with Government

Read on from Part X

Part XI

Other Powers of the Bank

Read on from Part XI

Part XII

International Matters

Read on from Part XII

Part XIII

Officers and Employees

Read on from Part XIII

Part XIV

General

Read on from Part XIV

Part XV

Repeal, Savings and Transitional

Read on from Part XV

Schedules