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Business 29 Aug 2014 | 11:39 AM Premium

Bank Negara seeks feedback on Financial Ombudsman for consumers

KUALA LUMPUR: Bank Negara Malaysia is seeking the public's feedback on its plan to set up a Financial Ombudsman scheme (FOS) to strengthen avenues for financial consumer redress.

Banking 26 May 2014 | 12:00 AM Premium

Merger and acquisition in takaful sector

PETALING JAYA: Islamic insurers, lagging behind the merger and acquisition (M&A) scenario, are likely to see some consolidation.

Banking 05 Apr 2014 | 12:00 AM Premium

Cost hike for Islamic banks

ISLAMIC banks could experience a potential spike in operating costs and see further pressure on net interest margins (NIM) once they comply with Bank Negara’s move to reclassify Islamic deposits as either principal guaranteed or investment accounts.

Business 29 Mar 2014 | 12:00 AM Premium

Affin sees challenging times ahead

Veteran banker Datuk Zulkiflee Abbas Abdul Hamid (pic) holds dual positions as the group CEO of Affin Holdings Bhd and managing director and CEO of Affin Bank Bhd. He shares with StarBizWeek his outlook for the company and some of his plans to drive the group forward. Below are excerpts of the interview:

Business 27 Mar 2014 | 12:00 AM Premium

IFSA to diversify Islamic investment products

KUALA LUMPUR: A provision under Islamic Financial Services Act 2013 (IFSA) will prompt Islamic banks to diversify the investment products which they offer to customers, bank executives said.

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.

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 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).

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 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.