News Regulations16 Apr 2018

Malaysia:Regulator again exhorts foreign insurers to stick to divestment vow

16 Apr 2018

Foreign insurers, which have repatriated about MYR16.5 billion (US$4.25 billion) between 2008 to 2017 in the form of dividends, cannot choose alternative initiatives, given their promise to comply with minimum shareholding requirements, Bank Negara Malaysia (BNM) said yesterday. This was the second time in as many months the BNM has insisted that foreign insurers abide by their divestment pledges.

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