Five foreign insurers at 'significant stage' of discussion to secure Malaysian participation
KUALA LUMPUR (May 17): Bank Negara Malaysia (BNM) said five foreign insurers in Malaysia are at a “significant stage” of discussion with domestic investors to take up at least 30% stakes in their businesses. This is in relation to the country's new rules on foreign insurer ownership.
BNM Governor Tan Sri Muhammad Ibrahim said a sixth foreign insurer has also started negotiations with domestic investors.
"As we are nearing the deadline, we will make announcements,” Muhammad said at a press briefing on Malaysia's first quarter economic performance here today.
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