Section 39D: Relationship between an Islamic banking institution or Islamic financial institution and its customers — Banking Companies Ordinance, 1962

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39D. Relationship between an Islamic banking institution or Islamic financial institution and its customers.__ The relationship between an Islamic banking institution or Islamic financial institution and its customers with regard to any transactions or arrangements that are in conformity with the Principles of Shariah shall be determined in accordance with the contractual terms governing such transactions or arrangements.

Effective date: 1962-06-07

Related sections

Section 39C: Business Section 39E: Shariah Governance Section 39B: Definitions Section 39F: Priority of payments to Islamic deposit account holders, investment account holders and other claimants Section 39A: Scope and application Section 39G: Charity

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