Islamic banks definition

Islamic banks means banks licensed as such by the Bank of Mauritius “Islamic financial institutions” means financial institutions licensed as such by the Financial Services Commission (Amended Act No. 10 of 2017
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Islamic banks means banks licensed as such by the Bank of Mauritius;
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Islamic banks means banks licensed as such by the Bank of Mauritius “Islamic financial institutions” means financial institutions licensed as such by the Financial Services Commission(Amended Act No. 10 of 2017 Government Gazette No. 70 of 24.07.17)
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Examples of Islamic banks in a sentence

  • The Bank compares its rates with the rates offered by peer Islamic banks in the market along with performing analysis of its profitability and studies of other market indicators.

  • Bankers to the Scheme shall be any bank (must be Shariah compliant/ Islamic banks and Shariah compliant/ Islamic banks window) appointed by the Management Company.

  • The funds not invested in the foregoing avenues shall be placed as deposit with scheduled Islamic banks / Islamic Divisions of conventional banks.

  • The fund has been benchmarked against recently published average 6-month deposit rates of A- & above rated Islamic banks.

  • Sheikh Dr. Al Mutlaq is a member of Shariah boards of several Islamic banks and financial institutions.

  • The Bank Negara Malaysia’s (“BNM”) Risk Weighted Capital Adequacy Framework (Basel II) (“RWCAF”) and Capital Adequacy Framework for Islamic Banks (“CAFIB”) – Disclosure Requirements (“Pillar 3”) is applicable to all banking institutions licensed under the Financial Services Act 2013 (“FSA”) and all Islamic banks licensed under the Islamic Financial Services Act 2013 (“IFSA”).

  • Sheikh Dr. Al Mutlaq is a member of Shariah Committee s of several Islamic banks and financial institutions.

  • Islamic banks must also satisfy the CBB that their group structures do not prevent the effective supervision of the Islamic bank licensee by the CBB and otherwise pose no undue risks to the licensee.

  • The Bank operates under Islamic principles and in accordance with all the relevant regulatory guidelines for Islamic banks issued by the CBB.

  • The Bank considers the following guarantees as credit risk mitigants for the purpose of Capital adequacy ratio calculations - Sovereigns and central banks, Public Sector Enterprises, Multi-lateral Development Banks, International organisations/officials entities having zero risk weights, Islamic banks or conventional banks and corporate entities (including insurance and securities firms) either by the parent, subsidiary and affiliates, of a minimum ECAI rating of A-.

Related to Islamic banks

  • L/C Bank means the Original L/C Bank and any other Lender which has been appointed as an L/C Bank in accordance with Clause 5.11 (Appointment and Change of L/C Bank) and which has not resigned in accordance with paragraph (c) of Clause 5.11 (Appointment and Change of L/C Bank).

  • Co-Syndication Agents as defined in the preamble hereto.

  • International banking institution means an international financial institution of which the United States is a member and whose securities are exempt from registration under the Securities Act of 1933.

  • Internet Banking means the service we offer by which you can access and transact on a nominated account by using a personal computer and accessing via our website. This includes transactions processed through the mobile banking facility as well as the smartphone app facility.

  • DIP Agents means the DIP ABL Agent and the DIP Term Loan Agent.

  • Limited line credit insurance producer means a person who sells, solicits, or negotiates one or more forms of limited line credit insurance coverage to an individual through a master, corporate, group, or individual policy.

  • Syndication Agents as defined in the preamble hereto.

  • Canadian financial institution means (i) an association governed by the Cooperative Credit Associations Act (Canada) or a central cooperative credit society for which an order has been made under section 473(1) of that Act, or (ii) a bank, loan corporation, trust company, trust corporation, insurance company, treasury branch, credit union, caisse populaire, financial services cooperative, or league that, in each case, is authorized by an enactment of Canada or a jurisdiction of Canada to carry on business in Canada or a jurisdiction of Canada;

  • UK Non-Bank Lender means (a) where a Lender becomes a party hereto on the day on which this Agreement is entered into, a Lender listed in Schedule 3.01(j), and (b) where a Lender becomes a party hereto after the day on which this Agreement is entered into, a Lender which gives a UK Tax Confirmation in the Assignment and Assumption and/or Joinder Agreement which it executes on becoming a party hereto.

  • International Borrower In connection with any Mortgage Loan, a borrower who is (a) a United States citizen employed in a foreign country, (b) a non-permanent resident alien employed in the United States or (c) a citizen of a country other than the United States with income derived from sources outside the United States.

  • International Financial Institution means any bank in the top 1,000 (together with their affiliated companies) as measured by "Tier 1" capital or any broker/dealer in the top 100 as measured by capital.

  • Basecoat means a coat of colored material, usually opaque, that is applied before graining inks, glazing coats, or other opaque finishing materials and is usually topcoated for protection.

  • UK Financial Institutions means any BRRD Undertaking (as such term is defined under the PRA Rulebook (as amended from time to time) promulgated by the United Kingdom Prudential Regulation Authority) or any person falling within IFPRU 11.6 of the FCA Handbook (as amended from time to time) promulgated by the United Kingdom Financial Conduct Authority, which includes certain credit institutions and investment firms, and certain affiliates of such credit institutions or investment firms.

  • Motorsport Australia means the Confederation of Australia Motor Sport Ltd. trading as Motorsport Australia;

  • Managing Agents as defined in the preamble hereto.

  • Banks shall include the Agent in its individual capacity.

  • London Inter-Bank Offered Rate means the interest rate at which the Bank's London Branch, London, Great Britain, would offer U.S. dollar deposits for the applicable interest period to other major banks in the London inter-bank market at approximately 11:00 a.m. London time two (2) London Banking Days before the commencement of the interest period. A "London Banking Day" is a day on which the Bank's London Branch is open for business and dealing in offshore dollars.

  • Co-Syndication Agent as defined in the preamble hereto.

  • foreign financial institution means an institution registered as a foreign financial institution with the Ministry of Finance in the Mexican Banking and Financial Institutions, Pensions, Retirement and Foreign Investment Funds Registry for purposes of Article 195, Section I of the Mexican Income Tax Law.

  • Digital Banking (a) means our present and future online banking services which can be accessed through 365 Online, Business Online, Bank of Ireland Mobile Banking, and services available on www.bankofireland.com; and

  • M2M Flowgate means Flowgates where constraints are jointly monitored and coordinated as defined and set forth in Schedule D to this Agreement.

  • DIP Lenders has the meaning assigned to such term in Section 2.05(b).

  • Facility Manager The Authorized User’s representative who is responsible for the day to day operations of the facility(s) referenced in the Project Definition.

  • New York Banking Day means any day except a Saturday, Sunday or a legal holiday in The City of New York or a day on which banking institutions in The City of New York are authorized or obligated by law, regulation or executive order to be closed.

  • L/C Issuers means (i) Bank of America, (ii) any other Lender in its capacity as issuer of Letters of Credit hereunder who has been selected by GFI and who has agreed to be an L/C Issuer hereunder in accordance with the terms hereof and (iii) any successor issuer of Letters of Credit hereunder appointed in accordance with the terms hereof, and “L/C Issuer” means any one of them.

  • Local Facility Provider means HSBC Trinkaus & Xxxxxxxxx XX, Deutsche Bank AG, Commerzbank Aktiengesellschaft and Hong Kong and Shanghai Banking Corporation Ltd., Thailand, Bank of America, N.A., Canada Branch, FIA Card Services, N.A., Citibank N.A., Citibank (China) Co., Ltd., Banco Nacional de Mexico, S.A., Integrante del Grupo Financiero Banamex, Bank of America, N.A., provided in each case it has become a party to, or by execution of an additional bank secured party acknowledgment has agreed to be bound by the terms of, the First Lien Intercreditor Agreement in its capacity as local facility provider.