This policy document sets out Bank Negara Malaysia’s (BNM) revised requirements and guidance to licensed insurers and licensed takaful operators carrying the medical and health insurance/takaful (MHIT) business. The requirements seek to address developments in the MHIT business. This is to promote more innovative and inclusive MHIT coverage. It is also to balance the need to ensure MHIT business remains sustainable in the long term.

Supplementing this, BNM has also issued a Feedback Statement to address the key feedback and proposals received during the consultation period.
 

Issuance Date
29 February 2024

Effective Date
1 June 2024 except for specific provisions outlined in the policy document

Issuing Departments
Financial Development and Innovation Department
Islamic Finance Department
Insurance and Takaful Supervision Department
Consumer and Market Conduct Department

Documents

• Policy Document on Medical and Health Insurance/Takaful Business
• Feedback Statement from the Exposure Draft on Medical and Health Insurance/Takaful Business