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Banking Law
This book has been in print for more than ten years; its first edition being published in 1995, followed by its second edition in early 2002. Since then, and during the last few years in particular, the banking industry underwent many fast-paced changes and developments. Bankers and lawyers have had to cope with the many recent challenges due to changes in the law and practice of banking. The main objective of this third edition is to incorporate these changes and developments herein. Tertiary students specializing in 'Banking and Finance' related subjects and professional bankers alike should find this updated book enlightening and easy to read.rnOne of the most significant of all these developments in the law and practice of banking is the coming into force of the Anti-Money Laundering Act, 2001 on January 15, 2002. Other legislation and subsidiary legislation that came into force in the last few years which affect bankers include the Development Financial Institutions Act 2002, the Payment Systems Act 2003 and the revision of the Exchange Control of Malaysia Notices in 2004. Most of these legal principles and practices are contained in the new Chapter 1 of this edition. Besides the addition of this new Chapter entitled 'Legal and Regulatory Framework', this third edition updates the chapters on the recent cases and changes in banking practices; especially in relation to electronic banking and internet .banking, banking operations and credit issues.rnThe accomplishment of this third edition, along with all our other achievements, is owed to our children, Ivan Jeron Detta and Elizabeth Mena Detta. Ivan is now a lawyer in our legal firm and Elizabeth will soon be an undergraduate law student at the Bond University, Gold Coast, Australia. We thank God Almighty for all His blessings bestowed upon our family.rn
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