Establishment of Labuan Islamic trusts
(1) A Labuan Islamic trust shall be a trust established under this section and in accordance with the requirements set out in the Labuan Trusts Act 1996 [Act 554], whereby the establishment of such trust is undertaken expressly with a view that its aims and operations shall be in compliance with Shariah principles. (2) Unless otherwise provided, the provisions of the Labuan Trusts Act 1996 shall apply to any Labuan Islamic trust.
Assets of Labuan Islamic trusts
The trustee of a Labuan Islamic trust shall ensure that the assets of the Labuan Islamic trust do not include any property which is not permissible based on Shariah principles, and that the assets are managed and invested in a manner that is not in contravention of Shariah principles.
Provisions on this page are reproduced verbatim from official open data. See the attribution line.
Source: Laws of Malaysia, Attorney General's Chambers of Malaysia (lom.agc.gov.my). Not a copy of the Gazette printed by the Government Printer (Interpretation Acts 1948 and 1967, s 61).