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Friends Life joint venture in Malaysian family Takaful business

Posted on 14 December 2011

Resolution Limited has announced that its subsidiary Friends Life has signed a shareholders’ agreement with AMAB Holdings Sdn Bhd, a wholly-owned subsidiary of AmBank Group, in connection with AmFamily Takaful Berhad a joint venture company which will manufacture and sell Shariah compliant family takaful business in which Friends Life holds a 30 per cent shareholding.
Friends Life and AMAB were conditionally granted a licence to manufacture and sell takaful business, which is the Islamic alternative to conventional life insurance business, through a new joint venture company in Malaysia in 2010………………………………………..Full Article: Source

 
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