IFSA 2013
E818519
IFSA 2013 is a Malaysian legislative framework that comprehensively regulates and supervises the Islamic finance industry, including Islamic banking, takaful, and related financial services.
Statements (48)
| Predicate | Object |
|---|---|
| instanceOf |
Islamic finance legislation
ⓘ
Malaysian federal statute ⓘ |
| appliesTo |
Islamic banks
ⓘ
Islamic financial holding companies ⓘ Islamic financial institutions ⓘ Islamic money brokers ⓘ Islamic payment system operators ⓘ takaful operators ⓘ |
| country | Malaysia ⓘ |
| enforcedBy | Bank Negara Malaysia NERFINISHED ⓘ |
| fullName | Islamic Financial Services Act 2013 NERFINISHED ⓘ |
| includesRequirement |
Shariah governance framework for Islamic financial institutions
ⓘ
business conduct and consumer protection standards ⓘ corrective and enforcement actions ⓘ establishment of Shariah committees ⓘ licensing of Islamic financial institutions ⓘ prudential standards for Islamic financial institutions ⓘ resolution and exit mechanisms for Islamic financial institutions ⓘ supervision and examination powers for Bank Negara Malaysia ⓘ |
| jurisdiction | Malaysia NERFINISHED ⓘ |
| keyConcept |
Shariah compliance
ⓘ
consumer protection ⓘ prudential regulation ⓘ systemic stability ⓘ |
| languageOfText |
English
ⓘ
Malay ⓘ |
| legalSystem | common law ⓘ |
| legislature | Parliament of Malaysia NERFINISHED ⓘ |
| purpose |
to ensure compliance of Islamic financial business with Shariah
ⓘ
to promote financial stability in the Islamic financial system ⓘ to provide a regulatory framework for Islamic financial institutions ⓘ to strengthen consumer protection in Islamic financial services ⓘ |
| region | Asia NERFINISHED ⓘ |
| regulator | Bank Negara Malaysia NERFINISHED ⓘ |
| relatedTo | Financial Services Act 2013 NERFINISHED ⓘ |
| repeals |
Islamic Banking Act 1983
NERFINISHED
ⓘ
Takaful Act 1984 NERFINISHED ⓘ |
| sector |
Islamic capital markets
ⓘ
financial regulation ⓘ |
| subjectMatter |
Islamic banking
NERFINISHED
ⓘ
Islamic finance ⓘ Islamic financial safety net ⓘ Islamic financial services ⓘ Islamic foreign exchange market ⓘ Islamic insurance ⓘ Islamic money market NERFINISHED ⓘ Islamic payment systems ⓘ takaful ⓘ |
Referenced by (1)
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