Syariah Financial Supervisory Board Act · s 14

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s 14

(1)

Every financial institution shall apply to the Authority for the approval by the Board with respect to its submission that its Islamic product or services is in accordance with Hukum Syara’ before it enters into any business transaction with respect thereto.

(2)

In an application for approval under subsection (1), the financial institution shall comply with such requirements as the Board or Authority may determine.

Board to approve appointments etc.