Islamic Banking Act · s 124

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s 124Application of Act

(1)

Save as expressly provided, this Act does not apply to licensed moneylenders, finance companies or banks licensed under the

Banking Order, 2006 (S 45/2006) or the International Banking Order, 2000

(S 53/2000).

(2)

Part 10 applies to licensed moneylenders and finance companies.

(3)

The Finance Companies Act (Chapter 89) does not apply to an

Islamic bank.

(4)

The Moneylenders Act (Chapter 62) does not apply to an

Islamic bank.

(5)

The Banking Order, 2006 (S 45/2006) does not apply to an

Islamic bank.