Labuan Islamic Financial Services and Securities Act 2010 · Updated to 15 Oct 2022 · Part VII · Labuan Takaful Business and Labuan Takaful Related Activities
91. List of Labuan takaful operators to be supplied by Labuan takaful manager and Labuan takaful underwriting manager
Feedback & supportEvery Labuan takaful manager and Labuan takaful underwriting manager shall, within thirty days from the close of its financial year, submit to the Authority, in such form and manner as may be specified by the Authority, a list of all Labuan takaful operators for whom such Labuan takaful manager provides administrative services or Labuan takaful underwriting manager provides underwriting services.
Labuan takaful manager
“Labuan takaful manager” means a person who is licensed to provide for management or administration services related to Labuan takaful business but does not include a Labuan takaful underwriting manager;
*NOTE—The Takaful 1984 [Act 312] has since been repealed by the Islamic Financing Services Act 2013 [Act 759] which comes into operation on 30 June 2013—see sections 282 and 283 of Act 759.
takaful
“takaful” means a scheme in compliance with Syariah principles based on brotherhood, solidarity and mutual assistance which provides for mutual financial aid and assistance to the participants in case of need whereby the participants mutually agree to contribute for that purpose;