Islamic Banking Act · s 102

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s 102Priority of deposit liabilities

(1)

Where an Islamic bank becomes unable to meet its obligations or becomes insolvent or suspends payment, the assets of that Islamic bank in

Brunei Darussalam shall be available to meet all deposit liabilities of the

Islamic bank in Brunei Darussalam.

(2)

The deposit liabilities shall have priority over all unsecured liabilities of the bank other than the preferential payments specified in section 147 of the Insolvency Act (Chapter 247).