Section 39F: Priority of payments to Islamic deposit account holders, investment account holders and other claimants
The Banking Companies Ordinance, 1962 · Federal Acts · IIA · in_force
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39F. Priority of payments to Islamic deposit account holders, investment account holders and other claimants.__ In case of the liquidation of an Islamic banking institution or Islamic financial institution, the State Bank shall prepare a scheme, consistent with the Principles of Shariah, for making of payments to the Islamic deposit account holders, investment account holders and other claimants.
Effective date: 1962-06-07
Related sections
Section 39E: Shariah GovernanceSection 39G: CharitySection 39D: Relationship between an Islamic banking institution or Islamic financial institution and its customersSection 39H: Separate Regulatory InstructionsSection 39C: BusinessSection 39I: Conversion and Establishment of Islamic Banking Subsidiary
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