deposit insurance in malaysia - An Overview
(iii) an settlement to borrow or lend securities or commodities, such as an agreement to transfer securities or commodities beneath which the borrower may well repay the loan with other securities or commodities, funds or income equivalents; or
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(b) subject to subsection (3), may perhaps transfer the takaful operator's belongings and liabilities to a different takaful operator or possibly a bridge establishment, together with liabilities under family members takaful certificates attributable to the 1st-talked about takaful operator as well as the takaful funds managed by the main-pointed out takaful operator and Division 4 of Section VII with the Islamic Economical Companies Act 2013 shall apply to your transfer.
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(2) All references to "family members solidarity takaful" in any prepared law shall, on the coming into Procedure of the Act, be construed as references to "relatives takaful" .
to any person, in addition to the Corporation and any in the subsidiaries of the Corporation, pursuant into the provisions concerning compulsory transfer of shares in Chapter 2A; or" ;
This can be a medical policy that's renewable as much as 75 several years old. Advantages consist of the choice to pick from four distinctive designs, with superior life span boundaries, and added individual accident go over.
(ii) if these kinds of surplus property are insufficient to satisfy Those people liabilities then the stability of such liabilities shall be fulfilled from the surplus property of your shareholders' fund just after payment has become designed to fulfill the shareholders' fund's liabilities click this site beneath subsection (three); or
(a) this kind of issues the Assessor Committee considers relevant such as the proven fact that the transfer get has become browse around these guys issued; and
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‘ "monetary establishment" means a certified lender, an Islamic bank, an insurance firm or maybe a takaful operator;';
and in all cases the Assessor Committee shall deduct the value in the advantage derived from any Unique monetary assistance delivered, instantly or indirectly, into the member establishment via the Company or Lender Negara Malaysia.
(six) When the Assessor Committee decides that it is just and acceptable that fascination or other return be paid out on an amount payable beneath subsubparagraph (three)(a) or (4)(a), these kinds of desire or return shall be paid through the Corporation at the rate or in the quantity based on the Assessor Committee to be just and sensible in just these kinds of period of time as may very well be specified via the Assessor Committee.