Legal Firm & Law Firm In Kuala Lumpur, Malaysia

BAFIA 1989

BAFIA 1989

LICENSING OF BANKING, FINANCE COMPANY, MERCHANT BANKING, DISCOUNT HOUSE AND MONEY–BROKING BUSINESSES
Banking, finance company, merchant banking, discount house and money-broking businesses to be carried on only under licence.
No person shall carry on—
(banking, finance company, merchant banking, or discount house business, unless it is a public company; or money-broking business, unless it is a corporation, and holds a valid licence granted under section 6 (4) to carry on such business.