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Section 6: Islamic mortgage refinance business

Mortgage Refinance Institutions Act

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Consolidated text

(1) A mortgage refinance institution licensed under this Act may apply to the central bank for approval to carry out Islamic mortgage refinance business. (2) The central bank may, in consultation with the Minister, by regulations, provide for the conduct of Islamic mortgage refinance business. (3) The regulations made under subsection (2) may provide for the treatment of Islamic mortgage refinance business products that is equivalent to the treatment of mortgage refinance business products under conventional mortgage refinance business.

Source: laws_africa.