Takaful Ikhlas applies for Saudi expansion


Takaful Ikhlas Sdn Bhd, a wholly-owned subsidiary of MNRB Holdings Bhd, has submitted an application to Bank Negara Malaysia and Permodalan Nasional Bhd (PNB) to expand its operations to Saudi Arabia.
Takaful Ikhlas chief executive officer Syed Moheeb Syed Kamarulzaman said it was also looking to other countries with a large Muslim population and those with mature financial markets for further expansion.
"We are currently seeking approval from Bank Negara and PNB to expand abroad and we are eyeing countries with high net-worth value and large Muslim population.We see Saudi Arabia as one of the possibilities but do not discount India, China and the UK as possible markets to expand into," he said in information received here recently.



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