This policy document sets out the approval, governance, prudential and operational requirements applicable to Islamic Banking Window (IBW) institutions as well as licensed bank, licensed investment bank and prescribed institution that intends to establish IBW operations. This policy document supersedes the Guidelines on Skim Perbankan Islam which was last updated on 2 November 2012, and it aims to ensure comprehensive coverage of players including prescribed institutions under the Development Financial Institutions Act 2002. This policy document also considered practicality and relevancy of the requirements to both domestic and overseas IBW operators which may experience different operating and regulatory environment.

Issuance Date
11 November 2024

Effective Date
1 January 2025

Issuing Department
Islamic Finance Department

Documents

• Islamic Banking Window Policy Document 
• FAQs on Islamic Banking Window Policy Document

Relevant Acts

• Financial Services Act (FSA) 2013
• Islamic Financial Services Act (IFSA) 2013
• Development Financial Institutions Act (DFIA) 2002