Section 2

In this Act, unless the context otherwise requires —

“Authority” means the Brunei Darussalam Central Bank established by section 3(1) of the Brunei Darussalam Central Bank Order, 2010

(S 103/2010);

“Board” means the Syariah Financial Supervisory Board established by section 3;

“Chairman” means the Chairman of the Board;

“financial institution” means any of the institutions set out in the

Schedule;

“Fiqh al-Mu’amalat” means the commercial law of Islam;

“Hukum Syara’ ” means the Laws of Islam according to the Syafeite,

Hanafi, Maliki or Hanbali sect of Ahlis Sunnah Waljamaah;

“Islamic banking business” has the same meaning as in section 2 of the

Islamic Banking Order, 2008 (S 96/2008);

“Islamic financial business” means financial business whose aims and operations are in accordance with Hukum Syara’;

Syariah Financial Supervisory Board 6

“Islamic product” means any product of any financial institution submitted by it to be in accordance with Hukum Syara’;

“Majlis” means the Majlis Ugama Islam constituted under section 5 of the Religious Council and Kadis Courts Act (Chapter 77);

“Minister” means the Minister charged with the responsibility for financial matters;

“member” means any member of the Board;

“takaful business” means the business of takaful whose aims and operations are in accordance with Hukum Syara’.