Exposure Draft on Financial Reporting for Takaful OperatorsEmbargo : For immediate release Not for publication or broadcast before 2150 on Thursday, 30 September 2021
30 Sep 2021
30 September 2021
This Exposure Draft (ED) sets out the proposed revisions to the current Policy Document on Financial Reporting for Takaful Operators issued by the Bank on 2 February 2018 (the Policy Document) to align the requirements of the Policy Document with the MFRS 17 and MFRS 9 requirements as well as to address the specificities of takaful. The ED is intended to ensure compliance with Shariah requirements and the latest MFRS requirements applicable to takaful business. This is consistent with the latest ruling by the Shariah Advisory Council of the Bank and recommendations by the Malaysian Accounting Standards Board (MASB) relating to the application of MFRS 17 and MFRS 9 to takaful businesses.
The Bank invites written feedback on the proposals in this ED including suggestions on areas requiring clarity or elaboration and alternative proposals for consideration. Responses must be submitted electronically to the Bank via email@example.com by 15 November 2021. In the course of preparing your feedback, you may direct any queries to the following officers:
Find out more: Exposure Draft on Financial Reporting for Takaful Operators
Bank Negara Malaysia
30 Sep 2021
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