UAE Laws and Islamic Finance

Laws of the UAE and Islamic Finance

Archive for January 31, 2011

Rules on Fully Automated System for Issuing/Tendering (FAST) Malaysia

Insurance Act 1996 (Act 553, Malaysia)

Exchange Control Act 1953 (Act 17, Malaysia)

Downloadable Guidelines and Practice Notes Issued by the Malaysian Securities Commission

Malaysian Bond Regulatory Framework

Downloadable Agreements, Rules, Guidelines, and Explanatory Notes Regarding Malaysia’s Bond Market Issued By Bank Negara Malaysia

Law Harmonization Committee of Malaysia



As part of Malaysia’s continuous efforts to further strengthen the legal system and infrastructure to cater for the growing development of the Islamic finance, the Law Harmonisation Committee (“the Committee”) has been established.

Objectives of the establishment

The Committee is established with the following objectives:-

  1. To create a conducive legal system that facilitates and supports the development of Islamic finance industry;
  2. To achieve certainty and enforceability in the Malaysian laws in regard to Islamic finance contracts;
  3. To position Malaysia as the reference law for international Islamic finance transactions; and
  4. For Malaysian laws to be the law of choice and the forum for settlement of disputes for cross border Islamic financial transactions.

Guidelines and Circulars Issued by Bank Negara Malaysia Concerning Islamic Finance

Development Financial Institutions Act 2002 (Act 618, Malaysia)

Banking and Financial Institutions Act 1989 “BAFIA” (Act 372, Malaysia)

UAE Laws and Islamic Finance

Laws of the UAE and Islamic Finance