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 · Invitations to Make Deposits
Islamic Banking Act · 2024 Revised Edition · Part · Invitations to Make Deposits
Official textFrom Attorney General's Chambers, unchanged
Subject to section 96, no person shall, without the written consent of the Minister, make an unsolicited call —
to solicit or procure the making of any deposit; or
Islamic Banking
to enter into or offer to enter into, any agreement with a view to the acceptance of any deposit, from any person in Brunei Darussalam or outside Brunei Darussalam.
The consent of the Minister under subsection (1) may be given to such person or such classes, categories or descriptions of persons, and be made subject to such conditions, including a condition requiring the disclosure of such information to the persons on whom unsolicited calls are made, as may be set out in the consent.
Any person who contravenes subsection (1) is guilty of an offence and liable on conviction to a fine not exceeding $10,000,000, imprisonment for a term not exceeding 10 years or both.
In this section, “unsolicited call” includes a personal visit and a verbal communication made without express invitation.
agreement
“agreement” means an agreement whether formal or informal and whether express or implied;
Part