Takaful to raise paid-up capital of Labuan unit

SYARIKAT Takaful Malaysia Bhd plans to increase the paid-up capital of subsidiary Asean Retakaful International (L) Ltd (ARIL) from US$4mil to US$15mil this year, and subsequently to US$50mil, in a bid to strengthen the retakaful capacity of the company. 

Takaful Malaysia chief executive officer Datuk Mohd Fadzli Yusof said the time was right to have a retakaful outfit of such magnitude to support the growing interest in takaful, or Islamic insurance, locally and abroad.