Islamic Banking Act · s 95

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s 95Advertisements for deposits

(1)

Subject to section 96 and to subsection (2) of this section, no person other than an Islamic bank shall issue, publish or otherwise facilitate any person to issue or publish an advertisement containing —

(a)

any invitation to make a deposit or to enter into or offer to enter into any agreement to make a deposit;

(b)

any information which is intended or might reasonably be presumed to be intended to lead directly or indirectly to the making of a deposit.

(2)

Subsection (1) does not apply to the publication by any person of any such advertisement for or on behalf of an Islamic bank.

(3)

Any person who contravenes subsection (1) is guilty of an offence and liable on conviction to a fine not exceeding $5,000,000, imprisonment for a term not exceeding 5 years or both.