The Islamic Financial Services Act 2013 combines the previously repealed Islamic Banking Act 1983, Payment Systems Act 2003, Takaful Act 1984, and Exchange Control Act 1953.
Published: 10 June, 2024
Publisher: LexisNexis
This comprehensive legislation establishes a cohesive governance and regulatory structure for Islamic banks in Malaysia, accommodating recent advancements in the financial landscape. This edition of the book not only offers in-depth commentary on every section of the statute but also includes analysis on recent court decisions, incorporating the latest legal amendments and discussing recent cases and judgments.
Introduction
Part I: Preliminary
Part II: Regulatory objectives and powers and functions of bank
Part III: Authorization
Part IV: Shariah requirements
Part V: Payment systems
Part VI: Prudential Requirements
Part VII: Ownership, control and transfer of business
Part VIII: Financial groups
Part IX: Business conduct and consumer protection
Part X: Islamic money market and Islamic foreign exchange market
Part XI: Submission of document or information
Part XII: Examination
Part XIII: Directions of compliance
Part XIV: Intervention and remedial action
Part XV: Other powers of bank
Part XVI: Enforcement and penalties
Part XVII: General provisions
Part XVIII: Repeal, savings and transitional