In force2024 Revised EditionCurrent version · 2024 Revised EditionSee versions on Attorney General's Chambers(opens the publisher’s site)
Islamic Banking Act · 2024 Revised Edition · Part · General
Islamic Banking Act · 2024 Revised Edition · Part · General
Official textFrom Attorney General's Chambers, unchanged
Any Islamic bank which contravenes any of the provisions of this Act for which no penalty is provided is guilty of an offence and liable on conviction to a fine not exceeding $10,000,000 and, in the case of a
Islamic bank
“Islamic bank” means a company which carries on Islamic banking business and holds a licence granted under section 4 or 23, and includes all branches and offices in Brunei Darussalam of any such company for the purposes of this Act;
Islamic Banking continuing offence, to a further fine not exceeding $100,000 for every day during which the offence continues after conviction.
Islamic bank
“Islamic bank” means a company which carries on Islamic banking business and holds a licence granted under section 4 or 23, and includes all branches and offices in Brunei Darussalam of any such company for the purposes of this Act;