Pre-Budget focus group meeting

During the focus group meeting with the industry in the preparation for the 2010 Budget, the Deputy Finance Minister made the following remarks:

• Vast scope existed to increase the life insurance and takaful markets, given the current low penetration level of 40.8% and 7.8%, respectively
• Developed economies have market penetration of over 80%

Issue on the lack of private pension funds was also discussed.

Source: Business Times 1 & 2