Islamic financial business definition

Islamic financial business means any Islamic financial business, the aims and operations of which do not involve any element which is not approved by the religion of Islam.
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Islamic financial business means any financial business in ringgit or other currency which is subject to the laws enforced by the Bank and consistent with the Shariah;
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Islamic financial business means the business or activity in accordance with Shariah which a prescribed institution is approved to carry on under paragraph 33B(1)(a) or (b), which may include—
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Examples of Islamic financial business in a sentence

  • In the case of a takaful entity that is not an Islamic financial institution, this Chapter applies only to the part of the entity’s business that is Islamic financial business.

  • It also sets out the necessary disclosures required to be made in the course of conducting Islamic financial business.

  • The Board must continuously develop and strengthen its members’ knowledge and understanding on Islamic finance/ takaful/ retakaful, as well as keep abreast with developments that may impact Islamic financial business.

  • A dual framework will be maintained for the conventional and Islamic financial business consistent with the dual financial system in Malaysia.

  • Sections 37 and 38 not to apply to Islamic banksThe provisions of sections 37 and 38 shall not apply to a financial institution engaging in Islamic financial business in accordance with this Act.

  • Shari’ah Advisory Board(1) Every financial institution which conducts Islamic financial business shall appoint and maintain a Shari’ah Advisory Board.

  • In cases of disputes and court proceedings relating to Islamic financial business or any Shariah issues arising from the IFI’s business operations, both the court and the arbitrator shall take into consideration the published rulings of the SAC or refer such issues to the SAC for its ruling.

  • A holistic culture of Shariah compliance refers to the way in which the IFI complies with Shariah principles in its overall Islamic financial business operations.

  • An authorised firm that conducts Islamic financial business must comply with the requirements in ISFI and any other applicable regulatory requirements.

  • For the avoidance of doubt, a financial institution shall, in respect of Islamic financial business carried on by it, be subject to the provisions of this Act.


More Definitions of Islamic financial business

Islamic financial business means financial business whose aims and operations do not involve any element which is not approved by Syariah; and
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Islamic financial business means financial institution business which conforms to the Shari’ah and includes—
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Islamic financial business means financial business whose aims and operations are in accordance with Hukum
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Islamic financial business means financial business undertaken by a person that conforms to Shari’ah principles and includes—
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Related to Islamic financial business

  • Danish Financial Business Act means the Danish Financial Business Act (Consolidated Act No. 174 of 31 January 2017, as amended);

  • special business means all business transacted at a special meeting of shareholders and all business transacted at an annual meeting of shareholders, except consideration of the financial statements, auditor's report, election of directors and reappointment of the incumbent auditor;

  • Local Business means a business serving as a contractor as defined in Business and Professions Code section 7026 or a business supplying construction-related materials that has its principal headquarters or permanently staffed regional office and that has held a business license within the zip codes listed above for Local Hire for a minimum of three months prior to the date the entity submits a bid, contract, or proposal for a Public Project. A Local Business contractor must also be properly registered with the Department of Industrial Relations in accordance with Labor Code section 1725.5. Local Business shall also mean any state or nationally certified minority-owned, women-owned, or disabled veteran business that has performed work for the District or other public agency within the zip codes listed above for Local Hire during the past four years. Certification for a disabled veteran business must be provided to the District. Local Business shall also mean a business that participates in an internship program that is currently approved or recognized by the District. The entity may also apply to obtain District approval of its internship program. The internship program must be approved by the District and must be completed by the end of the specific Public Project or by the next semester immediately after completion of the specific Public Project. Local Business shall also mean any entity that uses apprentices from a District approved apprenticeship program.

  • Principal Business means the primary activity as determined by analyzing the amount of capi- tal, labor, time, attention, and floor space devoted to each business activity and by analyz- ing the sources of net income and gross income. The name, appearance, and advertising of the entity may also be taken into consideration if they are given less weight.

  • Ohio Business Gateway means the online computer network system, created under section 125.30 of the Ohio Revised Code, that allows persons to electronically file business reply forms with state agencies and includes any successor electronic filing and payment system.

  • Additional Business Centre(s means the city or cities specified as such in the relevant Final Terms;

  • Parent Business has the meaning set forth in the Separation and Distribution Agreement.

  • Alarm business means the business by any individual, partnership, corporation, or other entity of selling, leasing, maintaining, servicing, repairing, altering, replacing, moving or installing any alarm system or causing to be sold, leased, maintained, serviced, repaired, altered, replaced, moved or installed any alarm system in or on any building, structure or facility.

  • Enterprises means DTE Enterprises, Inc., a Michigan corporation wholly-owned by the Borrower.

  • home business means a business, service or profession carried out in a dwelling or on land around a dwelling by an occupier of the dwelling which –

  • Unitary business means one or more related business organizations engaged in business activity both within and outside the State among which there exists a unity of ownership, operation, and use; or an interdependence in their functions.

  • Micro Business means a company which either:

  • Company Business means the business of the Company as presently conducted.

  • Core Business means any material line of business conducted by the Borrower and its Subsidiaries as of the Closing Date and any business reasonably related or incidental thereto.

  • Public business means and includes all matters which relate in any way, directly or indirectly, to the performance of the public body’s functions or the conduct of its business.

  • Cannabis business means any business activity involving cannabis, including but not limited to cultivating, transporting, distributing, manufacturing, compounding, converting, processing, preparing, storing, packaging, delivering, testing, dispensing, retailing and wholesaling of cannabis, of cannabis products or of ancillary products and accessories, whether or not carried on for gain or profit.

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

  • food business means any undertaking, whether for profit or not and whether public or private, carrying out any of the activities related to any stage of production, processing and distribution of food;

  • Minority Business means a business:

  • Real Estate Business means homebuilding, housing construction, real estate development or construction and related real estate activities, including the provision of mortgage financing or title insurance.

  • Business of the Company means any business or activity involved in grocery or general merchandise retailing and supply chain logistics, including but not limited to grocery distribution, business-to-business portal, retail support services and third-party logistics, of the type provided by the Company or its Affiliates, or presented in concept to you by the Company or its Affiliates at any time during your employment with the Company or any of its Affiliates.