Which of the following act is currently applicable in Malaysia

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

A	Banking and Financial Institution Act 1989
B	Islamic Financial Services Act 2013
C	Islamic Banking Act 1983
D	Takaful Act 1984

Explanation:

Detailed explanation-1: -Financial Services Act 2013 An Act to provide for the regulation and supervision of financial institutions, payment systems and other relevant entities and the oversight of the money market and foreign exchange market to promote financial stability and for related, consequential or incidental matters.

Detailed explanation-2: -The Financial Services Act (FSA) and the Islamic Financial Services Act (IFSA) came into force on 30 June 2013, replacing the repealed Payment System Act 2003 (PSA).

Detailed explanation-3: -A company that wishes to carry on leasing, factoring, development finance or building credit business (previously referred to as scheduled business under BAFIA) is no longer required to obtain a written acknowledgement from Bank Negara Malaysia.

There is 1 question to complete.