Positioning for change

Malaysia is positioning itself to be a leading force in the development of Islamic financial solutions, and takaful and retakaful is shaping up to be a major opportunity for the insurance industry. Addressing a market discussion between regulators, insurers and takaful insurers at the end of August, Dr Zeti Akhtar Aziz, governor of the Central Bank of Malaysia, outlined how supervision is evolving towards a more risk-based and self-regulated market conduct regime.