Malaysia legislation
Section 2
of KAEDAH-KAEDAH PROFESION GUAMAN SYARIE (WILAYAH-WILAYAH PERSEKUTUAN) (AKAUN PEGUAM SYARIE) 2023
Seksyen 2
(1)
In these Rules—
“account” means an account opened and maintained with an Islamic financial institution;
“client account” means a current or deposit account opened and maintained with an Islamic financial institution in the name of the firm in the title of which the word
“client” appears;
“client” means any client for whom a Peguam Syarie holds or receives client's money;
“trust money” means money held or received by a Peguam Syarie which is subject to a trust of which the Peguam Syarie is a trustee only and which is not—
P.U. (A) 66 20
(a)
client’s money; or
(b)
money received by a Peguam Syarie being money subject to a trust of which he is a sole trustee or co-trustee with one or more of his partners or employees;
“client's money” means money held or received by a Peguam Syarie for a client for whom the Peguam Syarie is acting in relation to the holding or receipt of such money either as a Peguam Syarie or in connection with his practice as a Peguam Syarie, bailee or stakeholder but does not include money to which the only person entitled is the Peguam Syarie himself or, in the case of a firm of Peguam Syarie, one or more of the partners in the firm.
(2)
The expression “books”, “accounts”, “ledger” and “records” referred to in these Rules shall be deemed to include loose-leaf books and such cards or other permanent documents as are necessary for the operation of any system of book-keeping, mechanical or computerised.
Duty to pay money into client account