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Malaysia: Takaful companies advised to consider merging

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Takaful firms in Malaysia have been advised to consider merging soon due to potential limited growth prospects and strong competition, particularly with the approaching de-tariffication of fire and motor insurance in 2016.

The takaful sector is undergoing rapid regulatory development, The Malaysian Reserve reported. Several general takaful firms face "difficulty meeting the capital requirements," Ernst & Young Malaysia financial services assurance partner, Brandon Bruce Sta Maria, said.

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