MAA Group will finally get to proceed with plans to buy new businesses after reaching a settlement agreement with Zurich Insurance Co. Under the settlement, Zurich has agreed to pay MAA Group RM103.43 million on top of the RM344 million acquisition pri…
Maybank Islamic Bhd, the Islamic banking arm of Malayan Banking Bhd (Maybank), aims to expand to all Asean member countries that Maybank has a presence in. According to its CEO Muzaffar Hisham, the bank intends to continue its regional expansion to oth…
Syarikat Takaful Malaysia remains in the hunt for a strategic partner in Indonesia to help expand its distribution network there. The takaful operator was in talks to sell a stake or issue new shares in its Indonesian unit to a local partner last year,…
At least three Islamic insurers are considering disposing their general takaful business ahead of the Islamic Financial Services Act 2013 (IFSA), which comes into force next month. Among companies that are mulling the sale of their general takaful busi…
Takaful Ikhlas Sdn Bhd is looking to boost its family takaful business, regarded as a long term saving mechanism, to drive the company’s growth and profitability further. According to its president and CEO Ab Latiff Abu Bakar, the company’s family taka…
Bank Islam Malaysia has defended its recent move to suspend its chief economist Azrul Azwar Ahmad Tajuddin after he had predicted a narrow win for Pakatan Rakyat in the upcoming general election. However, a bank source said predictions on the elections…
Paramount Corporation will raise RM550 million via a RM200 million perpetual bond sale and a RM350 million sukuk programme, which was put together by Paramount in cooperation with Hong Leong Investment Bank, OCBC Al-Amin Bank and RHB Investment Bank. T…
ASM Investment Services which manages 14 unit trust funds, of which 11 are already syariah-compliant, will convert the remaining three into shariah-compliant assets. According to the company’s CEO Ameer Ali Mohamed, the syariah-compliant unit trust ind…
Malaysian SC’s Shariah Advisory Council (SAC) revised the screening methodology for shariah-compliant securities, in order to further build scale in the shariah-compliant equity and investment management segments as well as expand the Islamic capital m…
DanaInfra Nasional Bhd (DINB) has extended the offer period and upped the indicative profit rate of its Exchange Traded Bonds and Sukuk (ETBS), also known as DanaInfra Retail Sukuk for retail investors. The move is intended to attracting more investors…
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