New Takaful Licenses Will Help Industry Growth

Bernama:The Life Insurance Association of Malaysia (LIAM) said the issuance of two new takaful licenses will further increase takaful penetration rate in Malaysia which is currently at a very low level.

Prime Minister Datuk Seri Najib Tun Razak Monday announced various measures to liberalise the financial sector, among them the offer of takaful licenses to players who can bring significant value proposition to Malaysia to spur the development of the industry...Read More

Turkey gears up secure share in huge halal food market

Today's Zaman :The Food Auditing and Certification Research Association (GİMDES) will for the first time in Turkey soon begin issuing halal food certificates, bringing the country one step closer to winning a share from the giant global market for halal food -- food prepared in accordance with Islamic law, which has reached $2 trillion in size.

Muhammad Zein Nasution, vice director for certification at the Indonesian Council of Ulamas (MUI), recently gave presentations on halal certification procedures and requirements to GİMDES officials. Halal food certification was first launched in Singapore, a predominantly non-Muslim country..Continue Reading

M'sia Issued Sukuk Worth RM6.4 Bln In First Quarter

Bernama:Malaysia has issued sukuk worth RM6.4 billion in the first quarter of this year, with three large issues of between RM1 billion and RM2.5 billion, says Securities Commission chairman Datuk Seri Zarinah Anwar.

As a pioneer in the global sukuk market, Malaysia would continue to see growth trend in sukuk issues this year, she said...Read More