HSBC yields 49% of its takaful activity in Malaysia

HSBC Insurance Holdings (Asia-Pacific) yields 49% of its shareholding in HSBC Amanah Takaful Malaysia to FWD Life insurance Company (Bermuda).

Already approved by the Malaysian regulatory authority, the transaction will be finalized during the first half of 2019.

HSBC Bank Malaysia intends to withdraw from takaful insurance to focus on its banking operations in Malaysia.