Section 33M
of Development Financial Institutions Act 2002
Section 33M
The Bank may require a prescribed institution to appoint any person as the Bank may approve, to carry out an audit on Shariah compliance by the prescribed institution.
(2)
The person appointed under subsection (1) shall have such functions and duties as may be specified by the Bank and shall submit a report to the Bank on the audit carried out pursuant to this section.
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(3)
The remuneration and expenses of the person appointed under subsection (1) shall be borne by the prescribed institution.
(4)
A person appointed under subsection (1) shall not be liable for a breach of duty of confidentiality between such person and the prescribed institution in respect of matters reported to the Bank pursuant to an audit on Shariah compliance under this section.