Takaful Act 1984
E818522
The Takaful Act 1984 was Malaysia’s pioneering legislation that established the regulatory framework for Islamic insurance (takaful) operations in the country.
Statements (44)
| Predicate | Object |
|---|---|
| instanceOf |
Malaysian federal law
ⓘ
takaful legislation ⓘ |
| administeredBy | Bank Negara Malaysia NERFINISHED ⓘ |
| appliesTo |
family takaful business
ⓘ
general takaful business ⓘ |
| basedOn | Shariah principles ⓘ |
| containsProvisionsOn |
accounts and audit of takaful funds
ⓘ
control of takaful operators ⓘ investments of takaful funds ⓘ registration of takaful operators ⓘ winding up of takaful business ⓘ |
| country | Malaysia ⓘ |
| defines |
takaful business
ⓘ
takaful fund ⓘ takaful operator ⓘ |
| establishedFrameworkFor |
governance of takaful participants’ funds
ⓘ
licensing of takaful operators ⓘ regulation of takaful funds ⓘ solvency requirements for takaful operators ⓘ supervision of takaful business ⓘ |
| historicalRole | pioneering legislation for Islamic insurance in Malaysia ⓘ |
| influenced | development of Islamic insurance regulation in other jurisdictions ⓘ |
| jurisdiction | Malaysia NERFINISHED ⓘ |
| languageOfText |
English
ⓘ
Malay ⓘ |
| legalDomain |
Islamic finance law
ⓘ
financial regulation ⓘ insurance law ⓘ |
| legislature | Parliament of Malaysia NERFINISHED ⓘ |
| purpose |
to facilitate the establishment and operation of Islamic insurance schemes
ⓘ
to provide a regulatory framework for takaful business in Malaysia ⓘ |
| regionSignificance | first dedicated takaful legislation in Malaysia ⓘ |
| regulates |
Islamic insurance operations
ⓘ
takaful business ⓘ takaful operators ⓘ |
| repealedBy | Islamic Financial Services Act 2013 NERFINISHED ⓘ |
| repealYear | 2013 ⓘ |
| sector |
Islamic finance
ⓘ
insurance industry ⓘ |
| shortTitle | Takaful Act 1984 NERFINISHED ⓘ |
| status | repealed ⓘ |
| subjectMatter |
Islamic insurance
ⓘ
takaful ⓘ |
| yearEnacted | 1984 ⓘ |
Referenced by (1)
Full triples — surface form annotated when it differs from this entity's canonical label.