Indonesia’s Islamic insurance industry is expanding three times as fast as Malaysia’s, prompting American International Group Inc. and Sun Life Financial Inc. to seek a broader presence in the nation. AIG is considering offering Shariah-compliant reinsurance, known as retakaful, in …
Malaysia evacuated more than 200,000 people and increased relief efforts as the worst floods in decades left at least 10 people dead. Parts of Thailand and Sri Lanka have also been inundated. The affected states are Kelantan, Kedah, Terengganu, Pahang, …
The International Islamic Financial Market is working on common templates for structuring sukuk to reduce delays caused by disagreements between Shariah scholars. The standards-setting body is drafting frameworks starting with leasing contracts known as Ijara, Chief Executive Officer Ijlal Ahmed …
American International Group Inc. is plotting its entry into Malaysia’s Islamic insurance market, lured by the country’s economic expansion and an industry that has grown more than fivefold in less than a decade. The insurer, the world’s largest before being …
The Malaysian law that exposes Shariah scholars to jail terms for rule breaches will ensure tighter compliance, in a market where the regulator has already made progress in unifying standards. Under the Islamic Financial Services Act 2013, which took effect …
