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IFSA 2013 AND ISLAMIC BANKING DEPOSITS Transition of Islamic Deposit Products under Islamic Financial Services Act 2013 22nd January 2015 KUALA LUMPUR Understanding the Shariah compliant requirements
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IFSA stands for Islamic Financial Services Act, which regulates the Islamic financial institutions in Malaysia. Islamic banking refers to banking activities that comply with Sharia law.
Islamic financial institutions in Malaysia are required to file IFSA reports and comply with Islamic banking requirements.
IFSA reports can be filled out online through the regulatory body's website, following the guidelines provided.
The purpose of IFSA and Islamic banking is to ensure that Islamic financial institutions operate in compliance with Sharia principles and regulations.
Islamic financial institutions must report financial data, compliance with Sharia law, and other relevant information.
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