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 · Unclaimed Balances
Islamic Banking Act · 2024 Revised Edition · Part · Unclaimed Balances
Official textFrom Attorney General's Chambers, unchanged
Any Islamic bank that pays unclaimed money to the Authority in compliance with this Act is relieved from all further liability, other than a liability arising under any other written law in respect of the money concerned.
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;
This section does not operate to relieve an Islamic bank from —
any obligation to comply with section 71 or a requirement, notice or direction under this Part; or
liability in respect of money paid to the Authority in purported compliance with this Act if the Authority repays the money to the Islamic bank under this Part.
Authority
“Authority” means the Brunei Darussalam Central Bank established by the Brunei Darussalam Central Bank Order, 2010;
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;