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Shariah Compliant E-wallet: Prospects & Challenges
28 Oct 2020 - 28 Oct 2020
08:30 am - 12:40 pm
The Central Bank’s Guidelines on e-money/e-wallet contain provisions on safeguarding users’ funds, depending on the nature of the scheme. Hence, the main Central Bank’s regulatory objective is to promote the safety and soundness of e-money/e-wallet schemes. The Guidelines outline the broad principles and minimum standards to be observed by e-money/e-wallet issuers concerning the operation of e-money/e-wallet schemes.
On top of that, approved issuers of Shariah-compliant e-money/e-wallet are required to comply with sections 28(1) and (2) IFSA in issuing a Shariah-compliant e-money. Accordingly, all operations, businesses or activities of such approved issuers need to be Shariah compliant.
This webinar offers an opportunity for the participants to gain a better understanding of the recent developments of e-money/e-wallet as well as the legal framework and Shariah perspective of e-money/e-wallet. There will also be a panel discussion on the challenges faced by operators of e-money/e-wallet by industrial players.
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