Section 8. Investment of the moneys of the Fund. (STATE AMAL JARIAH FUND ENACTMENT 1994

ENACTMENT NO. 13 OF 1994
STATE AMAL JARIAH FUND ENACTMENT 1994

Section 8. Investment of the moneys of the Fund.

(1) The Board may with the approval of the State Authority, invest moneys standing to the credit of the Fund-

(a)

on deposit in any bank in Malaysia;

(b) in any of the investments authorised by Trustee Act 1949 [Act 208];

(c) in marketable securities;

(d) as otherwise authorised by the State Authority.

(2) In granting the approval under this section the State Authority may impose such terms or conditions as it may consider necessary.

(3) With regard to the investment referred to in paragraph (c) of subsection (1) the specific securities in which moneys of the Fund can be invested in shall be determined by the State Authority, giving due consideration to factors such as the strength of the securities asset-backing and their rates of financial returns; and in determining so, the State Authority may be advised by Investment Managers appointed by the Board.