Malaysia’s Islamic banking and takaful is close to gaining a 20 per cent share in the total banking and insurance market in near future. Malaysia Takaful Association (MTA) said the takaful industry has been steadily closing ground over its conventional peers with strong growth from both the family and general segments.
Under the Financial Sector Masterplan (FSMP) for 2000- 2010, Bank Negara Malaysia had targeted the Islamic banking and takaful to reach a fifth of the total banking and insurance market in 2010. ……………………………………….Full Article: Source