MIFC begins roadshows in Qatar and Bahrain

MIFC started a 6-day roadshows on Saturday in Qatar and Bahrain to promote Malaysia as the international hub for Islamic finance.

More than 80 Malaysian delegates including those from MAA Takaful Bhd take part in the roadshows.

Source: Bernama

MIFC is Best

The Malaysia International Islamic Financial Centre (MIFC) has been named the "Best International Islamic Finance Centre" at the 2nd Annual London Sukuk Summit Awards of Excellence.

Source: Business Times

Is GCC the Biggest Takaful Market in the World?

Ernst & Young seems to think so. In E&Y's World Takaful Report 2008, E&Y put Gulf Cooperative Countries (GCC) contributions at > $1 bil compared to $2 bil of global contributions in 2006. Out of the 133 takaful operators in the world, 59 are within the GCC.

The takaful industry is also expected to grow at 20% p.a., reaching $4.3 bil contributions in 2010. This is actually still small compared to world insurance premiums of $3.7 trillion.

However, not everyone agrees with E&Y. Solidarity Group puts Asia at 53% market share and expects it to continue to be the dominant market.

If E&Y is correct, then Malaysia will have something to worry about. With the launch of Malaysia International Islamic Financial Centre (MIFC) initiative a few years ago, if GCC is the dominant takaful market, does it mean that the MIFC has not achieved the intended results?

Source: Gulf News

Source: Gulf Daily News

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