The National Financial Regulatory Administration (NFRA) has issued new regulations aimed at strengthening the supervision of commercial banks' third-party sales business. The Regulations on the Management of Commercial Banks' Third-Party Sales Business, recently released, emphasize stricter oversight of partner institutions, a more cautious approach to product approvals, and enhanced compliance in sales practices and distribution channels. The regulations will take effect on October 1, 2025.
These are the updates on insurance regulation across China this week.
Regulatory measures to strengthen the takaful system, macroeconomic stability, digitalisation and increased awareness of takaful products will support sustained growth of Malaysia's takaful sector in 2025, Fitch Ratings said in a new report.
The Central Bank of Jordan (CBJ) has estimated that the increase in motor third-party liability (MTPL) insurance premiums by JOD12 ($17) for drivers who commit traffic violations would raise an additional JOD9.8m ($13.8m) in premiums for insurance companies this year.
Brunei Darussalam's insurance regulator, the Brunei Darussalam Central Bank (BDCB), has extended the period for conducting the Brunei Darussalam Financial Inclusion Demand-Side Survey 2025 to 30 April 2025.
The Office of the Insurance Commission (OIC), Thailand's insurance regulator and the Consumer Council (council) have jointly reviewed the copayment measures to ensure fairness in health insurance, emphasising that it must not affect consumers. It also accelerated the dissemination of correct information and will take legal action against those who provide inaccurate information.
Mr Hiroaki Shirota, chairman of the General Insurance Association of Japan (GIAJ), has released the following statement:
The Saudi Insurance Authority (IA) and other stakeholders in the insurance market are conducting a study on whether or not to scrap insurers' requirements for their approval for health insurance services.
The shariah insurance market in Indonesia faces three major challenges, and they involve demand, supply and the ecosystem, according to the head of the Centre for Sharia Economics & Business (PEBS) of the Faculty of Economics and Business (FEB) at the University of Indonesia (UI), Rahmatina Awaliah Kas.
The Goods and Services Tax (GST) Council is considering a reduction in GST rates on health and life insurance premiums rather than a complete exemption, according to official sources.