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  • Shari'a Compliant Transactions

    • LR-1.2.27

      Conventional bank licensees may not hold themselves out as an Islamic bank. Conventional bank licensees may only enter into activities (c) to (e) listed in Rule LR-1.3.1, in accordance with the conditions outlined in Section LR-1.4.

      October 2007

    • LR-1.2.28

      [This paragraph was deleted in October 2007]

    • LR-1.2.29

      Conventional bank licensees may freely deal in financial instruments or operate a collective investment scheme that happens to be Shari'a compliant (because of the nature of the financial instruments concerned).

      October 2007