IBANK 12.1.10 Disclosures that must be made by Islamic Banking Business Firm
(1) An Islamic banking business firm must disclose to each customer that it is an Islamic banking business firm whose business must be conducted in accordance with Shari'a.
(2) The firm must also disclose:
(a) the names of the members of its Shari'a supervisory board; and
(b) if the customer requests, how reviews to assess the firm's compliance with Shari'a are carried out, and the frequency of those reviews.
(3) The firm must disclose the information to a customer:
(a) before conducting business with or on behalf of the customer; and
(b) thereafter, whenever the information changes.
|Derived from QFCRA RM/2015-2 (as from 1st January 2016).|