Several license applications following the liberalization of takaful insurance

In the light of the expected liberalisation of the islamic insurance sector in 2007, foreign players from Japan, Australia, Asia and Great Britain would be allowed to take up to 49 percent stake in local takaful companies.
The Insurance market as a whole would be expected to be worth between RM28 billion (USD 7,400,000,000) and RM 38 billion (USD 10,051,000,000) in 2010.