MALAYSIA: The Shariah Advisory Council (SAC) of Bank Negara Malaysia has made a ruling in respect of the Shariah Parameters on Transfer of Funds for Funding and Liquidity Risk Management from an Islamic Financial Institution to a Conventional Financial Institution.
This ruling aims to clarify the Shariah parameters that shall be complied with by Islamic financial institutions in determining the permissibility of transfer of funds for funding and liquidity risk management from an Islamic financial institution to a conventional financial institution.
