Islamic Banking and Takaful
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Takaful Malaysia launches Malaysia's first flexi motor takaful plan
Syarikat Takaful Malaysia Am Bhd (STMAB), the general takaful arm of Syarikat Takaful Malaysia Keluarga Bhd, has launched Takaful myClick Motor FlexiSaver, Malaysia’s first flexi motor takaful plan with Pay As You Drive daily cover
28 Oct 2021
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Bank Islam embarks on new growth phase grounded on ESG
BANK Islam Malaysia Bhd, having recently become the country’s first public-listed pure Islamic bank, is now embarking on its next stage of growth that will be centred around environmental, social and governance (ESG) aspects.
28 Oct 2021
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Sedania unit inks deal to bid for digital Islamic bank licence
Sedania Innovator Bhd unit Sedania As Salam Capital Sdn Bhd (SASC) has inked a memorandum of understanding with FCA Capital Sdn Bhd in its bid for a digital Islamic bank licence from Bank Negara Malaysia (BNM).
15 Oct 2021
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Banking industry, AKPK collaborate to assist eligible B50 borrowers, contribution value at about RM1b
Banks have worked alongside Agensi Kaunseling dan Pengurusan Kredit (AKPK) to offer a new co-created scheme called Financial Management and Resilience Programme (Program Pengurusan & Ketahanan Kewangan, URUS) to individual customers, according to a joint statement by the Association of Banks in Malaysia (ABM), Association of Islamic Banking and Financial Institutions Malaysia (AIBIM), Association of Development Finance Institutions of Malaysia (ADFIM) and AKPK.
15 Oct 2021
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Etiqa offers drivers rebates of up to 30% of their premiums
Etiqa, the insurance and takaful arm of the Maybank group, has launched an usage-based motor insurance and takaful add-on that offers drivers rebates of up to 30% of their premiums or contributions based on vehicle mileage clocked.
14 Oct 2021
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Indonesia’s Omnibus Law: Halal Certification to Impact Businesses
Indonesia issued a new Halal certification law, under Government Regulation 39 of 2021 (GR 39/2021) that will impact businesses in most industries. GR 39/2021 states that products that enter, circulate, and are traded in Indonesia must be Halal certified unless they are originating from materials prohibited under Islam (Haram).
13 Oct 2021
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Fintech and the Growth of Islamic Finance
Global Islamic finance exerts considerable influence in the international banking sector. Forecasts from 2020 estimate that the total value of global Islamic finance assets will reach $3.69 trillion by 2024, with the sector posting 10.6% growth in 2020. While this may already seem an impressive figure, the reality is that Islamic finance is still finding its footing.
13 Oct 2021
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Islamic banks' reputation surges amid COVID-19 pandemic: Carma Asia report
Bank Rakyat has received the most favourable coverage among Islamic banking institutions in Asia, with Bank Islam Malaysia and Maybank Islamic making up the rest of the top three, according to a report by Singapore-heaquartered media intelligence provider Carma Asia.
06 Oct 2021
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IIFM launches practical Shari’ah-Compliant solutions for new benchmark Risk-Free Rate (RFR)
Islamic finance industry’s leading standard-setting body, the International Islamic Financial Market (IIFM), today announced the approval of its Shari’ah Board’s RFR implementation related Compliant Standard Structuring Solutions for Murabahah and Ijarah transactions.
05 Oct 2021
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