Regulatory Alerts2005-12-15
Securities Commission (Prescription of Islamic Securities) (Amendment) Order 2005
The Minister of Finance II issued this order to amend the definition of Islamic securities under the Securities Commission Act 1993. The amendment excludes Islamic Negotiable Instruments from the prescription if issued by eligible licensed institutions or Islamic banks complying with Bank Negara Malaysia guidelines. Additionally, the exemption applies only if the maximum tenure of these instruments does not exceed five years.
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