Malaysia issues 4 new Islamic insurance licenses
Malaysia's central bank said Wednesday it has approved four licenses for Islamic life insurance to mostly foreign-led operators as part of an ongoing liberalization to make Malaysia a regional Islamic finance hub. Bank Negara Malaysia said in a statement it had planned to award only two insurance -- or family takaful -- licenses but raised this to four due to growth potential in the sector, the country's economic recovery and the strength of the applicants.
Syndicate
