Labuan Islamic Financial Services and Securities Act 2010 · Updated to 15 Oct 2022 · Part VI · Labuan Islamic Banking
75. Payment from a deceased person’s account
Feedback & supportNotwithstanding any written law, an Islamic bank licensee may, without the production of letters of probate or letters of administration, pay any sum not exceeding the equivalent of five thousand ringgit standing to the credit of a deceased person to any person who produces satisfactory proof of—
Islamic bank licensee
“Islamic bank licensee” means a Labuan Islamic bank and a Labuan Islamic investment bank;
the death of such deceased person; and
his entitlement under the law to the sum standing to the credit of such deceased person.
An Islamic bank licensee shall not make any payment under subsection (1) if it has received other claims to any money standing to the credit of the deceased person.
An Islamic bank licensee or its directors or officers shall not be liable in respect of any claim by any person in connection with any payment made in accordance with this section but such person may recover any sum lawfully due to him from the person to whom such payment has been made.