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In force2024 Revised Edition
Contents

Part · Licensing of Islamic Banks

11. Capital ratios

(1)

The Authority may require Islamic banks to maintain capital funds in Brunei Darussalam in proportion to their total assets or to every category of assets at such ratio as may be determined by the Authority.

(2)

Any Islamic bank incorporated in Brunei Darussalam shall not, at any time, have a capital adequacy ratio of less than 10 per cent or such other percentage as may be determined by the Authority, as calculated in accordance with such form, content and manner as may be determined by the

Authority by notice in writing.

(3)

Any licensed Islamic bank which fails to comply with any requirement of the Authority under subsection (1) is guilty of an offence and liable on conviction to a fine not exceeding $50,000 and, in the case of a continuing offence, to a further fine not exceeding $2,000 for every day during which the offence continues after conviction.

(4)

Subject to the provisions of any other written law, an

Islamic bank incorporated in Brunei Darussalam shall not reduce its paid-up capital during the currency of its licence without the approval of the

Authority.

(5)

The Authority may suspend or restrict the operations of an

Islamic bank which fails to comply with subsection (2) or (4) or any requirement of the Authority under subsection (1).

Report

Part 7

Part

Reserve Funds, Dividends, Balance Sheets and Information

Part

Prohibited Business

Part

Minimum Assets Requirements

Part

Powers of Control Over Islamic Banks

Part

Overseas Branches and Representative Offices of Domestic Islamic Banks

Part

Unclaimed Balances

Part

Invitations to Make Deposits

Part

General

Schedules