Islamic Banking and Takaful
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Sharp Takaful Growth in Malaysia, Pressure on Profitability
The Malaysian takaful industry’s sound contribution growth has been led by family takaful, rising by 46.7% in 1H21 (2020: 7.08%). General takaful grew by 13.5% in the same period (2020: 4.61%). The sharp growth in contributions was propelled by a boost in public awareness of takaful products, supportive government initiatives, easing of Covid-19 movement restrictions and a recovering economy, Fitch Ratings says in new report.
16 Feb 2022
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Takaful to outperform peers
The pandemic is causing much change in the insurance sector but takaful operators feel they have an edge in terms of growth over their conventional counterparts.
15 Feb 2022
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Al Rajhi Bank Malaysia to grow digital bank business
Al Rajhi Bank Malaysia (ARBM) plans to grow its digital bank with the launch of its new office in Menara Hap Seng 3 here.
15 Feb 2022
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MAFI to launch agrofood insurance and takaful scheme in Q2 2022
The agrofood insurance and takaful scheme, which among others provides income protection to farmers whose crops are damaged due to natural disasters or diseases, will be launched in the second quarter of this year, said Agriculture and Food Industries Minister Datuk Seri Dr Ronald Kiandee.
14 Feb 2022
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Islamic banking to remain resilient in 2022
Islamic banking is expected to remain resilient in 2022 and record growth in financing on the back of an improved economic environment and substantial public demand for Islamic products
11 Feb 2022
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Affin Bank forms partnership with NCIA to foster the growth of SMEs
Affin Bank Bhd and Affin Islamic Bank Bhd has exchanged a memorandum of agreement (MoA) with Northern Corridor Implementation Authority (NCIA) at the official event launch of the Kedah Rubber City (KRC) in Padang Terap, Kedah on Monday.
10 Feb 2022
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ETFs to spur growth of Islamic finance assets to $4.94 trillion by 2025
ETFs overall had a record year in 2021 with more than 900 new launches worldwide and over $1 trillion in global net inflows, taking assets under management to $9.9 trillion at the end of November, according to Invesco experts, who expect to see the continued growth of opportunities for investors looking for Shariah-compliant investment vehicles in 2022.
08 Feb 2022
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BNM fosters conditions for financial sector to upscale digitalisation
Bank Negara Malaysia (BNM) has set its priorities to foster the right conditions for Malaysia’s financial sector to capitalise on digitalisation while ensuring that attendant risks are well understood and managed effectively by the financial institutions.
07 Feb 2022
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Financial Sector Blueprint 2022-2026 initiatives complement current banking infrastructure
The Financial Sector Blueprint 2022-2026 (FSB3) is complementary with the current banking infrastructure, said Bank Negara Malaysia.
31 Jan 2022
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