Labuan Islamic Financial Services and Securities Act 2010 · Updated to 15 Oct 2022 · Part VII · Labuan Takaful Business and Labuan Takaful Related Activities
86. Separate accounts to be kept by Labuan takaful operator
Feedback & supportEvery Labuan takaful operator shall keep the accounts in respect of its Labuan takaful business separate from its other accounts.
Labuan takaful operator
“Labuan takaful operator” means a person who is licensed to carry on Labuan takaful business;
Every Labuan takaful operator which carries on both family takaful business and general takaful business shall keep the accounts in respect of its family takaful business separate from the accounts in respect of its general takaful business.
family takaful business
“family takaful business” means takaful business relating to family takaful;
Every Labuan takaful operator which is a branch of a
Malaysian takaful operator shall keep the accounts in respect of its Labuan takaful business separate from the accounts in respect of its domestic takaful business carried on in Labuan.
Malaysian takaful operator
“Malaysian takaful operator” means a takaful operator which is licensed under the *Takaful Act 1984;