Labuan Islamic Financial Services and Securities Act 2010 · Updated to 15 Oct 2022 · Part V · Licensing of Intermediaries
56. Islamic securities licensee
Feedback & supportNo person shall carry on business as an Islamic securities licensee unless that person is a Labuan company who has been granted a licence to act as an Islamic securities licensee under this section.
Islamic securities licensee
“Islamic securities licensee” means a person, who for valuable consideration, provides investment advice or administrative services in respect of securities for the purposes of investment, including dealing in securities or such other activity as may be specified by the Authority, which is in compliance with Syariah principles in Labuan. Islamic securities licensee Islamic securities licensee
Labuan Islamic Financial Services and Securities 71
Notwithstanding subsection (1), the following persons can carry on business as an Islamic securities licensee:
a person referred to in subsections 55(1) and (2) of the
Labuan Financial Services and Securities Act 2010 and has obtained the prior approval of the Authority; and
an Islamic bank licensee.