This legislation has been repealed. Do not cite it as law in force.
Text recovered by OCR from a scanned copy — section numbers and wording may be wrong. Check the official PDF on lom.agc.gov.my before citing.
s 8
(1) Subject to subsection (2), every Islamic bank may Islamic" establish a correspondent banking relationship with any bank may bank outside Malaysia. establish COTTeSpondent
(2) The Central Bank may prescribe by notice in relationship writing that no Islamic bank shall, except with the outside approval of the Minister on the recommendation of the Malaysia, Central Bank, establish a correspondent banking relationship with any bank established in any of the countries specified in the notification or with any bank owned or controlled by the government or an agency of the government of any such country.
Malay text (authoritative)
(1) Tertakluk kepada subseksyen (2), tiap-tiap bank Islam boleh mengadakan pertalian bank koresponden dengan mana-mana bank di luar Malaysia.
(2) Bank Negara boleh menetapkan dengan notis secara bertulis bahawa tiada sesuatu bank Islam boleh mengadakan, kecuali dengan persetujuan Menteri atas syor Bank Negara, pertalian bank koresponden dengan mana-mana bank yang ditubuhkan di mana-mana negara yang dinyatakan dalam pemberitahuan atau dengan mana-mana bank yang dipunyai atau dıkawa oleh Kerajaan atau ejensi Kerajaan bagı mana-malla negara itu.
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).
