Shariah Principles definition

Shariah Principles means Islamic law as agreed by the Shariah Committee of the Company.

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Shariah Principles means the Islamic principles of banking and finance as adopted and approved by the Shariah Committee of the Bank and by the Shariah Advisory Council of Bank Negara Malaysia under Section 16B of the Central Bank of Malaysia ▇▇▇ ▇▇▇▇.

Shariah Principles means the principles of Islamic law relating to banking and finance as adopted and approved by the Shariah adviser of AEON Credit, and in accordance with the resolutions and rulings of the Shariah Advisory Council of Bank Negara Malaysia under Section 51 of the Central Bank of Malaysia Act 2009;

Examples of Shariah Principles in a sentence

• The Account must not be opened or used for any non-permissible activities in line with the Shariah Principles.

• For the avoidance of doubt and notwithstanding any other provisions to the contrary herein contained, it is hereby agreed and declared that nothing in this Agreement shall oblige the Bank or the Customer, respectively, to pay or to receive interest (by whatever means or name called) on any amount due or payable to another party or to do anything contrary to the Shariah Principles.

• For the avoidance of doubt and notwithstanding any other provisions to the contrary herein contained, it is hereby agreed and declared that nothing in the Security Documents shall oblige any party to the Security Documents to pay or to receive interest (by whatever means or name called) on any amount due or payable to another party to the Security Documents or to do anything contrary to Shariah Principles.

• If any of the provisions of this Agreement becomes invalid, illegal or unenforceable in any respect under any law, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired as long as the contractual relationship is valid in accordance with the Shariah Principles.

• The Hirer hereby acknowledges that the Owner shall have the right to refer the following to SAC relating to any matters herein regarding the Facility and / or the terms of this Terms and Conditions: (a) where there is a dispute or issue pertaining to determination or ruling of SAC's of BNM or the Owner's Shariah Committee; or (b) where there shall be a determination as to this facility being consistent with Shariah Principles.

• The Hirer hereby acknowledge that the Owner shall have the right to refer to the following to SAC relating to any matters herein regarding the Facility and/or the terms of this Agreement: (a) where there is a dispute or issue pertaining to determination or ruling of SAC’s or the owner’s Shariah Committee; or (b) where there shall be a determination as to the facility being consistent with Shariah Principles.

• The Hirer hereby acknowledge that the Owner shall have the right to refer to the following to SAC relating to any matters herein regarding the Facility and/or the terms of this Terms and Conditions: (a) where there is a dispute or issue pertaining to determination or ruling of SAC's of BNM or the owner's Shariah Committee; or (b) where there shall be a determination as to the facility being consistent with Shariah Principles.

• It is hereby agreed and declared by the Parties that the Facility may, subject to compliance with Shariah Principles, be varied in the manner acceptable to the Financier and thereupon such amended details of the Facility shall be deemed to become effective and shall be read and construed as if such amended details have been incorporated in and had formed part of this Agreement at the date of execution thereof.

More Definitions of Shariah Principles

Shariah Principles means the Islamic principles of banking and finance as adopted and approved by the Shariah Committee of the Bank and by the Shariah Advisory Council of Bank Negara Malaysia under Part VII Chapters 1 and 2 of the Central Bank of Malaysia Act 2009;

Shariah Principles means the Islamic banking and finance principles as adopted and endorsed by the Shariah Advisory Committee of the Bank and the Shariah Advisory Council of Bank Negara Malaysia.

Shariah Principles means the principles and rules of Shariah as determined by the Shariah Advisory Council of the Securities Commission of Malaysia and/or Shariah committee of BMIS and/or a Participant’s Shariah committee or Shariah adviser. In the event of a conflict between the interpretation of the principles, the conflict will be resolved in the following order of precedence (in order of highest to lowest precedence): (1) Shariah Advisory Council of the Securities Commission of Malaysia (2) Shariah Committee of BMIS and (3) Shariah Committee or Shariah adviser of a Participant.

Shariah Principles means the principles of Islamic law relating to banking and finance as adopted