The law of Islamic banking in Malaysia: the legal reality / Aleziana Carolina Castelo…[et al.]

Castelo, Aleziana Carolina and Vermol, Frida and Mojiliu, Leona Dominic and Sainy, Mervyn@Hasan (2009) The law of Islamic banking in Malaysia: the legal reality / Aleziana Carolina Castelo…[et al.]. [Student Project] (Unpublished)

Abstract

In Malaysia, the Central Bank is vested with comprehensive legal powers to regulate and supervise the financial system by the Central Bank of Malaysia Act (CBMA) 1958. As for Islamic banks, it is regulated and licensed under a separate legal framework, namely the Islamic Banking Act (IBA) 1983. The Act therefore accords flexibility to Islamic banks to undertake a broad range of Syariah compliant banking business. In addition, the Banking and Financial Institution (BAFIA) 1989 allows conventional banking institutions to conduct Islamic banking business via 'Islamic windows'. The S^jiah-compiiance is being the apex of the Islamic financial system in Malaysia. In realizing to its significance, the CeritmhBanking Act was amended to accord the Syariah Advisory Council (SAC) of the Bank Negara Malaysia, the sole authoritative body on matters pertaining to Syariah in Islamic banking.

Metadata

Item Type: Student Project
Creators:
Creators
Email / ID Num.
Castelo, Aleziana Carolina
2006107275
Vermol, Frida
2006146181
Mojiliu, Leona Dominic
2006133585
Sainy, Mervyn@Hasan
2006133581
Contributors:
Contribution
Name
Email / ID Num.
Thesis advisor
Nazri, Nurnazida
UNSPECIFIED
Subjects: H Social Sciences > HJ Public Finance > Finance, Islamic
Divisions: Universiti Teknologi MARA, Shah Alam > Faculty of Law
Programme: Bachelor in Legal Studies
Keywords: islamic banking, CentIslamic Banking Act (IBA) 1983. Islamic Banking Act (IBA) 1983
Date: 2009
URI: https://ir.uitm.edu.my/id/eprint/31773
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