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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 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 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 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 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 15 Jul 2013 | 12:00 AM Premium

Takaful industry faces hiccups under new legislation

KUALA LUMPUR: The takaful industry, which expects new business growth of at least 20% this year, faces some hiccups with the implementation of new legislation in the form of the Islamic Financial Services Act (IFSA) 2013.

Business 13 Jul 2013 | 7:21 AM Premium

Report: Malaysia's Islamic Finance Overhaul Boosts Protection For Depositors

KUALA LUMPUR/DUBAI: New laws governing Malaysia's Islamic finance sector will boost protection for depositors by making religious advisers legally accountable for financial products, and liable to steep fines and prison time for wrongdoing.

Business 12 Apr 2013 | 12:00 AM Premium

Staff pinching worry in insurance arena

PETALING JAYA: With the Financial Services Act (FSA) and Islamic Financial Services Act (IFSA) around the corner, the pinching and hiring of talent is expected to intensify among composite insurers and takaful players amid the talent crunch in the competitive insurance arena.

Business 01 Apr 2013 | 12:00 AM Premium

New rules to see some takaful companies separating life and general operations

PETALING JAYA: Although the Islamic Financial Services Act (IFSA) is expected to see some takaful players, especially those with a composite licence, split their life and general operations, it has not deterred their gameplan to strengthen and grow their takaful business amid the growing and competitive Islamic insurance landscape.

Business 21 Mar 2013 | 12:00 AM Premium

Bank Negara is liberalising foreign exchange rules to enhance competitiveness

KUALA LUMPUR: Bank Negara is liberalising the foreign exchange administration rules to enhance the economy’s competitiveness and further develop the domestic financial market.