Local and foreign players invited to apply for retakaful license
Topik: Takaful am, Takaful semula on Aug 29th, 2007 Comments Off
Source: Bernama, 29th August 2007
Qualified local and foreign players have been invited to apply for retakaful licenses in the country.
Making the announcement, Bank Negara Malaysia Deputy Governor Datuk Zamani Abdul Ghani said the move was in line with the government’s efforts to expand the retakaful (reinsurance under Islamic principles) sector to complement the growth of the takaful industry,
He said besides fulfilling the need for retakaful support for takaful operators, the new retakaful licencees will assist in reducing the industry’s dependency on conventional reinsurance support.
They will also ensure that the technical knowledge is made more readily available and enhanced in the market, particularly in takaful and retakaful underwriting.
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