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KUALA LUMPUR: The new Islamic Financial Services Act (IFSA) 2012 will statutorily enforce the management of syariah non-compliance risk and require Islamic financial institutions to ensure that their aim, operation, business, affairs and activities are syariah-compliant at all times.
PETALING JAYA: Will the soon-to-be-gazetted Financial Services Act (FSA) and Islamic Financial Services Act (IFSA) spark another round of consolidation among domestic insurers?
KUALA LUMPUR: Bank Negara is liberalising the foreign exchange administration rules to enhance the economy’s competitiveness and further develop the domestic financial market.
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.
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.
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.
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.