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International

Malaysia urges foreign insurers to comply with divestment commitment

April 16, 2018 Reprints

Malaysia's central bank said that foreign insurers cannot choose alternative methods of complying with the minimum shareholding rules recently put in place, Asia Insurance Review reported citing Bernama. The Bank Negara Malaysia said that foreign insurers need to reduce their stakes in local insurance ventures to no more than 70% by June 30.

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Malaysia urges foreign insurers to comply with divestment commitment

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