Central Bank of Malaysia Act 2009 s 59

s 59 The Bank to issue circulars, guidelines, etc., on Shariah matters

(1) The Bank may issue such written circulars, guidelines or notices on any Shariah matter relating to the Islamic financial business carried on by any Islamic financial institution in accordance with the advice or ruling of the Shariah Advisory Council. (2) An Islamic financial institution shall comply with any written circulars, guidelines or notices issued by the Bank under subsection (1) and within such time as may be set out in the circulars, guidelines or notices. (3) Any person who fails to comply with any circulars, guidelines or notices issued by the Bank under subsection (1) commits an offence and shall, on conviction, be liable to a fine not exceeding three million ringgit.

Malay text (authoritative)

Bank hendaklah mengeluarkan pekeliling, garis panduan, dsb., mengenai perkara Shariah

(1) Bank boleh mengeluarkan apa-apa pekeliling, garis panduan atau notis bertulis mengenai apa-apa perkara Shariah yang berhubungan dengan perniagaan kewangan Islam yang dijalankan oleh mana-mana institusi kewangan Islam mengikut nasihat atau keputusan Majlis Penasihat Shariah. (2) Sesuatu institusi kewangan Islam hendaklah mematuhi mana-mana pekeliling, garis panduan atau notis bertulis yang dikeluarkan oleh Bank di bawah subseksyen (1) dan dalam apaapa tempoh yang dinyatakan dalam pekeliling, garis panduan atau notis itu. (3) Mana-mana orang yang tidak mematuhi mana-mana pekeliling, garis panduan atau notis yang dikeluarkan oleh Bank di bawah subseksyen (1) melakukan suatu kesalahan dan boleh, apabila disabitkan, didenda tidak melebihi tiga juta ringgit.

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Find Act 701 on lom.agc.gov.my ↗

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).

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