Islamic Banking Act · s 36

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36.
Non-financial businesses
(1) No Islamic bank in Brunei Darussalam shall carry on, or enter into any partnership, joint venture or other arrangement with any person to carry on, whether in Brunei Darussalam or elsewhere, any business except for —
(a) Islamic banking business;
(b) any business the conduct of which is regulated or authorised by the Authority under any other written law;
(c) any business which is incidental to the business which the
Islamic bank may carry on under paragraph (a) or (b);
(d) any business or class of business as the Authority may approve, subject to such conditions as the Authority may impose in any particular case.
(2) Nothing in this section shall be construed as exempting an
Islamic bank from any requirement which apart from this section, the
Islamic bank is required to comply with under any written law for the conduct of any business.
(3) Any Islamic bank which contravenes this section or fails to comply with any condition imposed or prescribed under this section is guilty of an offence and liable on conviction to a fine not exceeding $250,000 and, in the case of a continuing offence, to a further fine not exceeding $25,000
for every day during which the offence continues after conviction.

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s 36Non-financial businesses

(1)

No Islamic bank in Brunei Darussalam shall carry on, or enter into any partnership, joint venture or other arrangement with any person to carry on, whether in Brunei Darussalam or elsewhere, any business except for —

(a)

Islamic banking business;

(b)

any business the conduct of which is regulated or authorised by the Authority under any other written law;

(c)

any business which is incidental to the business which the

Islamic bank may carry on under paragraph (a) or (b);

(d)

any business or class of business as the Authority may approve, subject to such conditions as the Authority may impose in any particular case.

(2)

Nothing in this section shall be construed as exempting an

Islamic bank from any requirement which apart from this section, the

Islamic bank is required to comply with under any written law for the conduct of any business.

(3)

Any Islamic bank which contravenes this section or fails to comply with any condition imposed or prescribed under this section is guilty of an offence and liable on conviction to a fine not exceeding $250,000 and, in the case of a continuing offence, to a further fine not exceeding $25,000

for every day during which the offence continues after conviction.