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Islamic Finance Briefing - Categorized | Compliance, Tax, Legal, Regulatory, Insurance (Takaful) more

Malaysia issues new Takaful licenses

Posted on 06 September 2010

From Arabnews.com: Malaysian Finance Minister Mohd Najib Abdul Razak, who is also the prime minister, has approved the issuance of the four family Takaful (Islamic insurance) licenses pursuant to the Takaful Act 1984 to joint ventures involving major insurance companies from the US, UK and the Netherlands.
Bank Negara Malaysia, the central bank and insurance regulator, last week issued the licenses to joint ventures to be established by i) American International Assurance Berhad (70 percent) and Alliance Bank Malaysia Berhad (30 percent); ii) AMMB Holdings Berhad (70 percent)……………………………………….Full Article: Source

 
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