Islamic Banking Act · s 5

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5.
Use of word “Islamic bank”
(1) No person, whether incorporated or not, other than an
Islamic bank shall, without the written consent of the Authority —
(a) use the word “Islamic bank” or any of its derivatives in any language, or any other word indicating that it transacts
Islamic banking business, in the name, description or title under which the person or body of persons is transacting business in
Brunei Darussalam; or
(b) make or continue to make any representation to that effect in any bill head, letter paper, notice, advertisement or in any other manner.
(2) Nothing in this section shall prohibit an association of
Islamic banks formed for the protection of common interests from using the word “Islamic bank” or any of its derivatives in any language as a part of its name or description of its derivatives.

Islamic Banking
(3) Any person who contravenes subsection (1) is guilty of an offence and liable on conviction to a fine not exceeding $100,000, imprisonment for a term not exceeding 2 years or both and, in the case of a continuing offence, to a further fine not exceeding $5,000 for every day during which the offence continues after conviction.

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s 5Use of word “Islamic bank”

(1)

No person, whether incorporated or not, other than an

Islamic bank shall, without the written consent of the Authority —

(a)

use the word “Islamic bank” or any of its derivatives in any language, or any other word indicating that it transacts

Islamic banking business, in the name, description or title under which the person or body of persons is transacting business in

Brunei Darussalam; or

(b)

make or continue to make any representation to that effect in any bill head, letter paper, notice, advertisement or in any other manner.

(2)

Nothing in this section shall prohibit an association of

Islamic banks formed for the protection of common interests from using the word “Islamic bank” or any of its derivatives in any language as a part of its name or description of its derivatives.

Islamic Banking

(3)

Any person who contravenes subsection (1) is guilty of an offence and liable on conviction to a fine not exceeding $100,000, imprisonment for a term not exceeding 2 years or both and, in the case of a continuing offence, to a further fine not exceeding $5,000 for every day during which the offence continues after conviction.