Reuters - Malaysia's Malayan Banking Bhd,the country's largest in asset terms, plans to buy a 30 percent stake in Pak-Kuwait Takaful Company Ltd, the Malaysian lender said on Wednesday.
Pak-Kuwait Family Takaful is in the process of applying for license from the authorities in Pakistan to operate the family takaful (Islamic insurance) business, it said.
It is a joint venture between Pak-Kuwait Investment Company Private Ltd, Allied Bank Ltd and Saudi Pak Industrial and Agricultural Investment Company Limited, Maybank said in a statement.
Wednesday, June 25, 2008
Malaysia Maybank plans stake in Pakistan takaful firm
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