PETALING JAYA: The takaful market in Malaysia is showing steady growth and “in a very obvious way is overtaking conventional insurance” despite global financial and insurance sectors having been hit by the pernicious Covid-19 pandemic, says a London-based independent economist and writer.
In a commentary, Mushtak Parker said while the market share of Islamic banking of the total banking sector is just under 40%, the share of takaful is way behind at 16% of the total insurance sector in Malaysia.
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