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In force2024 Revised Edition
Contents

Part · Powers of Control Over Islamic Banks

64. Remuneration and expenses of Authority and others

(1)

The Authority may at any time (whether or not the appointment of such person has been terminated) fix the remuneration and expenses to be paid by an Islamic bank to any person appointed by the Authority under section 59 or 60 to advise an Islamic bank in the proper conduct of its business.

(2)

Where, under section 59(2)(c) or 60(b), the Authority has assumed control of the business of a licensed Islamic bank or some other person has assumed control of the business of such an Islamic bank pursuant to a direction or orders of the Authority, the Authority may, at any time, whether or not the Authority or that other person has ceased to be in control of the business of the Islamic bank, fix the remuneration and expenses to be paid by the Islamic bank to the Authority and to any person employed or authorised by the Authority under section 63(3) to assist the Authority in the control of and the carrying on of the business of the Islamic bank, or to that other person, as the case may be.

Report

Part

Overseas Branches and Representative Offices of Domestic Islamic Banks

Part

Unclaimed Balances

Part

Invitations to Make Deposits

Part

General

Schedules