Islamic Financial Services Act 2013: An Annotation (E-Book)

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Islamic Financial Services Act 2013: An Annotation (E-Book)

Author Mohd Johan Lee
Publication Date December, 2018
ISBN 9789674008154
Format E-Book
Publisher LexisNexis


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The Islamic Financial Services Act 2013 combines the recently repealed Exchange Control Act 1953, Takaful Act 1984, Payment Systems Act 2003, and Islamic Banking Act 1983. The revised Act takes into account recent changes in the financial system and offers a more standard framework for governance and regulation for Islamic banks in Malaysia. This book offers in-depth commentary on every aspect of the law as well as evaluation of the court's published rulings.


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
Schedule 1-16

ISBN: 9789674008154

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