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now that Bank Raayat has acquired Takaful IKHLAS from MNRB, doesn't Bank Raayat has a conflicting business interest with its bancatakaful arrangement with Sharikat Takaful?... anyone can help explain?
High effective tax rate is mainly due to bancatakaful fee paid to bank partners are not tax deductible. The company is appealing to IRB. Not sure about the probability of success and by when. But if comes through I expect it to be a strong boost to share price.
