The Islamic insurers’ need to preserve liquidity could leave them well placed to buy equities, once Malaysia finally emerges from the coronavirus pandemic.
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The Malaysian insurer, part of Maybank, expects to engage external managers more as it boosts investment in Asian equities and domestic property.
The new unit aims to create a stronger focus on the firm's Islamic institutional business, both onshore and offshore.
The Singapore regulator is looking to facilitate the industry's expansion by tackling key issues such as a lack of sharia-compliant assets and conflicting codes on supervision and tax treatments.