60. Promotion of Malaysia as an international Islamic financial centre

Terms defined in s 2

• Bank

  Bank

  Defined · s 2

  “Bank” means Bank Negara Malaysia or in English, the “Central Bank of Malaysia”;

  Open s 2
• financing

  financing

  Defined · s 2

  “financing” means the giving of any advance, loan, credit or other facility in whatever form or by whatever name called, including the giving of a guarantee or undertaking of any surety obligations for another person and where such financing is extended in accordance with the Shariah shall include, and may be in the form of, without limitation, any sale or purchase arrangement, joint venture arrangement, deferred payment sale, return sharing arrangement or any other financing arrangement made in accordance with the Shariah;

  Open s 2
• supervisory authority

  supervisory authority

  Defined · s 2

  “supervisory authority” means any authority, body or agency in or outside Malaysia other than the Bank which is responsible for the supervision or oversight of any financial institution, financial market, capital market intermediary or participant or payment system;

  Open s 2