IslamicFinance.de

Allianz Malaysia has received the green light to begin stalks to acquire HSBC Amanah Takaful (Malaysia). According to Allianz, Bank Negara Malaysia (BNM) has no objection in principle for Allianz to commence negotiations with HSBC Insurance (Asia Pacific) Holdings, JAB Capital and the Employees Provident Fund Board on the proposed acquisition. This is subject to all parties concluding the negotiations within six months from BNM's written approval. Pursuant to the Islamic Financial Services Act 2013, parties concerned are required to obtain the prior written approval from BNM or the Minister of Finance on the recommendation of BNM, before entering into any agreement to effect the proposed acquisition.