Consumer Credit Act 2025 · Updated to 31 Dec 2025 · Part VI · Islamic Credit Business
82. Internal policies and procedures on Islamic credit business
Feedback & supportAn Islamic credit provider shall, at all times ensure that its internal policies and procedures on Islamic credit business are consistent with the regulations made under paragraphs 122(2)(b)
Islamic credit provider
“Islamic credit provider” means a person who carries on an Islamic credit business where the person is authorized under this Act or other written laws;
and (c) and standards or guidelines specified under paragraphs 123(2)(b)
standards or guidelines
“standards or guidelines” includes any obligation or requirement as specified by the Commission or a Regulatory and Supervisory Authority under section 123;
and (c).
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Every director, partner or officer of an Islamic credit provider, and a person appointed by an Islamic credit provider to advise on its compliance with Shariah shall at all times comply with the internal policies and procedures adopted by such Islamic credit provider including internal policies and procedures to implement the regulations made under paragraphs 122(2)(b) and (c) and standards or guidelines specified under paragraphs 123(2)(b) and (c).
director
“director” has the meaning assigned to it in the Companies Act 2016, and includes a reference to a person occupying or acting in the position of a director of a corporation, by whatever name called and whether or not validly appointed to occupy, or duly authorized to act in, such position;