Takaful Malaysia converts its composite licence into single licences

  • Insurance Premium
  • Saturday, 02 Jun 2018

KUALA LUMPUR: Syarikat Takaful Malaysia Bhd (STMB) has announced the conversion of its composite licence into single licences and splitting of the company into two entities to manage the operations of its family and general takaful businesses separately.

The conversion of STMB’s composite licence to single licences, which took effect from yesterday, is in accordance with the legislative requirement of the Islamic Financial Services Act 2013 (IFSA).

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