MALAYSIA OFFERS NEW INSURANCE SCHEME FOR MUSLIMS

An Islamic insurance scheme has been launched in Malaysia to provide Muslims with financial help following a bereavement, according to the locally based Star newspaper. The publication reported that the so-called khairat laris scheme combined the traditional practice of khairat, which is a Muslim welfare fund, with the modern concept of insurance. The initiative has been jointly launched for people up to the age of 65 by Malaysia’s Takaful Nasional and Laris Pessona, the newspaper added.