Islamic Banking and Takaful
news
Three firms team up to seek Islamic digital banking license
Green Packet Bhd, ZICO Holdings Inc, and M24 Tawreeq Sdn Bhd have formed a consortium to jointly submit an application for one of five digital banking licences to be issued by Bank Negara Malaysia. The consortium’s application is focused on establishing an Islamic digital bank.
30 Jun 2021
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E-Wallet Boost Launches Three More Insurance and Takaful Plans
Axiata Digital’s e-wallet Boost has introduced three new micro-insurance and takaful plans under ‘Boost Protect’ to further provide Malaysians with affordable and premium coverage.
28 Jun 2021
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Hishammuddin: Crucial to reshape how green growth is financed
Malaysia hopes to see a shift in thinking on total emissions and on how to incentivise low-carbon practices in fuelling global green growth in the post Covid-19 world, said Foreign Minister Datuk Seri Hishammuddin Tun Hussein.
25 Jun 2021
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Empowering sustainability and ESG integration in Islamic finance
The Islamic finance industry is expanding rapidly. The industry witnessed double-digit growth of 14 percent with a total of US$2.88 trillion in assets by the end of 2019, and global Islamic finance assets are expected to hit $3.69 trillion in 2024, according to the 2020 Islamic Finance Development Report released by Refinitiv and the Islamic Corporation for the Development of the Private Sector.
25 Jun 2021
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Turkey may merge three Islamic banks controlled by wealth fund
Turkey may merge three publicly owned Islamic banks under the country’s wealth fund to increase efficiency and economies of scale, the Dünya newspaper reported on Wednesday.
24 Jun 2021
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FWD Takaful launches FWD Invest First Plus to enhance savings with extended benefits
FWD Takaful Berhad (“FWD Takaful”) introduces FWD Invest First Plus, an investment-linked takaful plan designed to magnify savings while offering protection for death and total & permanent disability (TPD). The plan also offers extended benefits such as multiple sum covered for accidental benefit up to 80 years old and higher non-medical limit up to RM2.5 million, among others. FWD Invest First Plus comes with two plans, Wealth Management Plan and Legacy Plan, for customers to achieve their future life goals.
23 Jun 2021
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Life insurers and takaful operators extend deferment of payment to year-end
THE Life Insurance Association of Malaysia (LIAM) and Malaysian Takaful Association (MTA) have extended the Covid-19 Relief Programme on deferment of premium payment/takaful contribution and additional relief measures to Dec 31, 2021 for their policy/certificate holders who are financially affected by the pandemic.
23 Jun 2021
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Uncertain Impact of Regulatory Changes on UAE Islamic Banks
Regulatory changes being ushered in by the Higher Sharia Authority (HSA), housed under the UAE central bank, to comply with the Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI) sharia standards will have uncertain impact on Islamic banks, Fitch Ratings says. HSA's initiatives affect various aspects of Islamic banks' daily operations, including issuing, arranging and investing in sukuk.
17 Jun 2021
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Bahrain's Islamic banking sector set for further growth
Bahrain’s sizable Islamic banking sector is set for further growth powered by consolidation and rising appetite for Sharia-compliant finance, it has emerged.
15 Jun 2021
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