Deposit or Customer’s Investment Fund from Doubtful Sources
- Shariah Advisory Council, Bank Negara Malaysia
Resolution:
The SAC, in its 58th meeting dated 27 April 2006, has resolved that Islamic financial institutions are allowed to accept application to open deposit account or investment account from a customer without conducting investigation to ascertain whether the sources of the customer’s fund are permissible (halal), forbidden (haram) or a mixture of the two. Notwithstanding this, the SAC has no objection for Islamic financial institutions to establish an internal screening process to ascertain whether the sources of the fund received are Shariah compliant.
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