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Indonesia: Four insurers set to enter sharia finance sector

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Indonesia's Financial Services Authority said four insurers will enter the sharia finance sector, The Jakarta Post reported.

PT Maskapai Asuransi Sonwelis, PT Asuansi Parolamas, Kospin Jasa and PT ACE Life Assurance are in the process of getting their licenses.

Mulya Siregar, deputy commissioner at the agency, said Kospin Jasa "has applied for a principle license to establish a sharia-based insurer."

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