Development Financial Institutions Act 2002 · Updated to 6 Oct 2023 · Part III · Restrictions on Business
Section 33
Feedback & supportSubject to subsection (2), a prescribed institution shall invest any of its assets in such manner, and maintain the assets in such place, as the Bank, with the approval of the Minister, may specify.
prescribed institution
“prescribed institution” means a development financial institution which is prescribed by the Minister under subsection 2(1);
The Bank may direct a prescribed institution in writing—
Bank
“Bank” means the Central Bank of Malaysia established under the *Central Bank of Malaysia Act 2009;
not to make investment of a specified class or description;
or
to realise, before the expiry of a specified period or such extended period as the Bank may approve, the whole or a specified proportion of its investment.
(Deleted by Act A1502).
PART IIIA
ISLAMIC FINANCIAL BUSINESS
Islamic financial business
“Islamic financial business” means the business or activity in accordance with Shariah which a prescribed institution is approved to carry on under paragraph 33B(1)(a) or (b), which may include— (a) accepting Islamic deposits on current account, deposit account, savings account or other similar accounts, with or without the business of paying or collecting cheques drawn by or paid in by customers; and (b) accepting money under an investment account.