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Business 23 Jul 2013 | 12:00 AM Premium

Takaful operators to use IFSA grace period to ensure growth

PETALING JAYA: Takaful operators like Syarikat Takaful Malaysia Bhd and Takaful Ikhlas Sdn Bhd, a unit of MNRB Holdings Bhd, are aggressively strategising their operations to ensure profitable growth and taking advantage of the five-year time frame given to composite takaful players to fully comply with the new Islamic Financial Services Act (IFSA).

Business 10 Sep 2013 | 12:42 PM Premium

Report: CIMB Islamic Eyes Moderate Growth, Focus On Core Markets

KUALA LUMPUR: Malaysia's CIMB Islamic Bank Bhd, part of Southeast Asia's fifth-largest lender by assets, expects moderate levels of domestic growth as it plans to focus on core markets to maintain profitability, its chief executive told Reuters

Business 26 Oct 2013 | 12:00 AM Premium

Economic Report 2013/2014: Banking system, capital market stronger

DURING the first eight months of 2013, the banking system and capital market were further strengthened to facilitate and catalyse growth of the economy as Malaysia transitions to a high-income and developed nation.

Business 20 Nov 2013 | 12:48 PM Premium

SC, BNM, PIDM plan framework for over-the-counter derivatives markets (Update)

KUALA LUMPUR: The Securities Commission (SC), Bank Negara Malaysia (BNM) and PerbadananInsurans Deposit Malaysia (PIDM) are developing a framework to enhance the transparency of over-the-counter (OTC) derivatives markets in Malaysia.

Business 11 Dec 2013 | 12:00 AM Premium

Fitch: Stable insurance sector likely in M'sia

PETALING JAYA: Fitch Ratings, while expecting further consolidation in the local insurance market, says the sector and rating outlooks for Malaysia’s life insurance, general insurance and takaful sectors remain stable for next year.

Business 12 Dec 2013 | 12:00 AM Premium

Further takaful sector consolidation expected

KUALA LUMPUR: The takaful segment may see further consolidation due to the Islamic Financial Services Act (IFSA) that requires composite takaful providers to segregate their family and general units under separate licences, says Great Eastern Takaful Bhd chief executive officer Zafri Abdul Halim.

Banking 23 Dec 2013 | 2:15 PM Premium

Infrastructure projects to boost Malaysia's lead role in Sukuk mart

KUALA LUMPUR: The infrastructure projects to be launched in Asean and the Middle East and North Africa (Mena) regions will continue to put Malaysia as the champion in the sukuk market next year, said CIMB Islamic Bank Bhd.

Business 25 Feb 2014 | 12:00 AM Premium

Clarity on syariah deposits, classification of various types of financial contracts next year

KUALA LUMPUR: Come June 30 next year, all Islamic banks and commercial banks with Islamic banking subsidiaries offering Islamic deposits must classify them either as principal guaranteed or investment accounts which are not principal guaranteed under syariah contracts in line with the Islamic Financial Services Act (IFSA).

Business 10 Mar 2014 | 12:00 AM Premium

New framework seen to further limit pushing of insurance, unit trust products

PETALING JAYA: Product pushing, one of the main concerns in the insurance and unit trust business, will be further curtailed with the introduction of the new financial advisory framework that may come on stream this year.

Business 20 Mar 2014 | 12:00 AM Premium

Islamic banking institutions get 2-year transition

A TWO-YEAR transition period until June 30 next year has been accorded to Islamic banking institutions to facilitate reclassification into Islamic deposits and investment accounts under the Islamic Financial Services Act (IFSA) 2013.