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
For the purposes of this Part, money is unclaimed money if it is money of a kind referred to in section 85 that an Islamic bank holds an account that has not been operated on for at least —
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;
6 years; or
such shorter period as may be approved, in any particular case, by the Authority.
The account may include —
money whose owner is not identifiable; and
money owned jointly or severally by two or more persons.
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;