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Islamic Finance Briefing - Categorized | Insurance (Takaful), Market Moves more

AMTakaful (eventually) opens for business

Posted on 13 January 2012

Malaysia’s 12th fully-fledged Takaful operator, AmTakaful, has eventually registered with Bank Negara Malaysia enabling it to start selling family Takaful products in the country.
Late last year The Islamic Globe reported on the signing of the shareholder’s agreement between Friends Life, a subsidiary of Guernsey-based Resolution Ltd, and AMMB Holdings, a subsidiary of AmBank Group (see Issue 44). The capitalization of the new venture is RM100m ($32m) with Friends Life putting up RM30m ($9.6m) and AMMB RM70m ($22.4m)………………………………………..Full Article: Source

 
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