Syariah Financial Supervisory Board Act · 2024 Revised Edition
Section 15
Official textFrom Attorney General's Chambers, unchanged
Unless the Board otherwise approves in writing, no financial institution shall appoint, engage or employ, as the case may be, any person —
Board
“Board” means the Syariah Financial Supervisory Board established by section 3;
Syariah Financial Supervisory Board
to become a member of any syariah advisory body of;
to act as a syariah consultant or syariah advisor of, that financial institution.
In an application for approval pursuant to subsection (1), the financial institution shall submit to the Board such information as the Board may determine.
financial institution
“financial institution” means any of the institutions set out in the Schedule;
The decision of the Board to grant or refuse to grant an application for approval shall be final and shall not be subject to any appeal.
No purported employment or purported engagement of any such person shall be valid for any purpose if the prior approval in writing of the
Board has not been obtained in respect of that person.
Terms defined in s 2
Board
Defined · s 2“Board” means the Syariah Financial Supervisory Board established by section 3;
financial institution
Defined · s 2“financial institution” means any of the institutions set out in the Schedule;