Islamic Financial Services Act 2013: An Annotation, 2nd Edition | 2024

Islamic Financial Services Act 2013: An Annotation, 2nd Edition | 2024

The Islamic Financial Services Act 2013 consolidates the formerly repealed Islamic Banking Act 1983, Payment Systems Act 2003, Takaful Act 1984, and Exchange Control Act 1953.

This all-encompassing legislation creates a unified governance and regulatory framework for Islamic banks in Malaysia, reflecting recent developments in the financial sector. This edition of the book provides detailed commentary on each section of the statute, includes analysis of recent court decisions, incorporates the latest legal amendments, and discusses recent cases and judgments.

Contents of Islamic Financial Services Act 2013: An Annotation, 2nd Edition | 2024 :

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