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Malaysian takaful industry grows 18.3% in 2022 on higher demand for Islamic finance — MTA
Malaysia’s takaful industry recorded a strong performance in 2022, driven by increasing demand for Islamic finance products and the acceptance of takaful products as preferred protection schemes, said the Malaysian Takaful Association (MTA)
14 Apr 2023
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press release
Bank Islam inked a Memorandum of Understanding (MoU) with BUMITRA to provide financial solutions for prospective hajj pilgrims
Bank Islam Malaysia Berhad (Bank Islam) inked a Memorandum of Understanding (MoU) with Persatuan Syarikat Pengendalian Pelancongan Bumiputera Malaysia (BUMITRA) to provide financial solutions for prospective hajj pilgrims intending to subscribe to hajj package via 22 Pengelola Jemaah Haji (PJH) companies appointed by Lembaga Tabung Haji (TH), who are also members of BUMITRA.
07 Apr 2023
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press release
EPF members can apply for Account 2 Support Facility through MBSB Bank’s shariah-compliant Ihsan-i beginning 7 April
MBSB Bank Berhad (MBSB Bank), an Islamic Bank licensed under the Islamic Financial Services Act 2013 (IFSA) offers shariahcompliant facility Ihsan-i to the members of Employees Provident Fund (EPF) for the Account 2 Support Facility (FSA2) beginning 7 April 2023.
07 Apr 2023
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press release
The IILM concludes reissuance of USD 740 million short-term Ṣukūk
The International Islamic Liquidity Management Corporation (IILM), an international organisation that develops and issues short-term Shari’ah-compliant financial instruments, has successfully reissued a total of USD 740 million short-term Ṣukūk across three different tenors of one, three, and six-month respectively.
06 Apr 2023
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news
IMF to separate Islamic finance in SNA/BPM
The International Monetary Fund (IMF) plans to provide separate categories for Islamic finance in its next update to the System of National Accounts (SNA25) and Balance of Payments Manual (BPM7). This is a positive step in enhancing data quality, comparability and transparency, Fitch Ratings says.
06 Apr 2023
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Asia: Malaysia to tap Hong Kong’s ESG maturity, global hub status to grow Islamic finance sector, Zafrul says
Malaysia is keen on leveraging Hong Kong’s financial hub status to grow its own sizeable footprint in the Islamic finance industry while supporting the city’s ambitions in the US$2.2 trillion sector, Kuala Lumpur’s trade tsar has said.
05 Apr 2023
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