MNRB gets BNM approval for general and family retakaful business
23 Apr 2015 / 05:37 H.
KUALA LUMPUR: MNRB Holdings Bhd's wholly owned subsidiary Malaysian Reinsurance Bhd (Malaysian Re) has gained the approval from Bank Negara Malaysia (BNM) to conduct general and family retakaful business.
It said in a filing with Bursa Malaysia yesterday, the business would be under Section 10 of the Islamic Financial Services Act 2013 (IFSA) via the establishment of a retakaful division.
MNRB plans to undertake an internal restructuring exercise for its retakaful business, noting the details will be announced at a later date.