Country Profile - Malaysia: The Takaful Invasion
Source: Asia Insurance Review | Oct 2007
Bank Negara has openly expressed its plan to develop Malaysia as an Islamic Finance hub, and has signalled its commitment with the approval of nine takaful licences in the last year. This has resulted in conventional players zealously protecting their turf and growing controversy in the market surrounding a level playing field and cannibalisation of business. We look at how conventional life insurers are coping with the increasing competition.
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