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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 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 25 May 2015 | 5:10 PM Premium

Depositors have investment or deposit option under IFSA 2013

KUALA LUMPUR: Depositors may now opt for either investment or deposit accounts under the Islamic Financial Services Act (IFSA) 2013.

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 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 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 06 Feb 2013 | 12:00 AM Premium

New Islamic Financial Services Act to enforce management of syariah non-compliance risk

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.

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.

Corporate News 23 Jan 2017 | 12:00 AM Premium

Syarikat Takaful Malaysia finalising corporate structure

PETALING JAYA: Syarikat Takaful Malaysia Bhd, which is not discounting the possibility of a merger and acquisition (M&A), is in the midst of finalising its corporate structure in line with requirements under the Islamic Financial Services Act (IFSA) 2013.

Business 12 May 2015 | 1:33 PM Premium

Takaful Malaysia on acquisition trail

KUALA LUMPUR: Syarikat Takaful Malaysia Bhd is hoping to acquire a local Takaful company over the next two years in a bid to strengthen its operations in the Takaful space in line with the Islamic Financial Services Act (IFSA ) 2013.