Islamic Banking Act · 2024 Revised Edition · Part · Licensing of Islamic Banks
13. Licence fees
Official textFrom Attorney General's Chambers, unchanged
Every Islamic bank licensed in Brunei Darussalam shall pay such annual licence fee as may be prescribed.
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;
In respect of each of its branches in Brunei Darussalam, every licensed Islamic bank shall pay such annual or other fee or fees as may be prescribed.
In respect of its branches outside Brunei Darussalam, every
Islamic bank which is incorporated in Brunei Darussalam shall pay such annual fee as may be prescribed.
Under subsections (1), (2) and (3), different licence fees may be prescribed in respect of different classes or description of each place of business and such classes or description may take account of the different facilities provided at each place of business, but the fees so specified shall apply uniformly within each such class or category.
The manner of payment of a licence fee shall be as specified by the Authority.
Authority
“Authority” means the Brunei Darussalam Central Bank established by the Brunei Darussalam Central Bank Order, 2010;
Terms defined in s 2
Authority
Defined · s 2“Authority” means the Brunei Darussalam Central Bank established by the Brunei Darussalam Central Bank Order, 2010;
Islamic bank
Defined · s 2“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;
place of business
Defined · s 2“place of business”, in relation to an Islamic bank, includes a head or main office, a branch, an agency, a mobile branch of the Islamic bank, any office established and maintained for a limited period only and any other place used by the Islamic bank for the dispensing or acceptance of money on account or for the conduct of other Islamic banking business;
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