Takaful Malaysia, Bank Muamalat form bancatakaful partnership

KUALA LUMPUR: Syarikat Takaful Malaysia Keluarga Bhd (Takaful Malaysia) and its wholly-owned unit, Syarikat Takaful Malaysia Am Bhd, have formed a bancatakaful partnership with Bank Muamalat Malaysia Bhd.

In a joint statement, the insurance group said that the partnership aims to provide Takaful Malaysia with access to the customer base, branch network and sales force of Bank Muamalat, enabling the Islamic bank to expand its product offerings in delivering greater value for its customers.

Takaful Malaysia group chief executive officer Nor Azman Zainal said the partnership would provide Bank Muamalat’s customers access to greater financial security through its comprehensive and affordable range of family takaful products, from credit-related to advisory and a wide range of general takaful products.

“Our collaboration with Bank Muamalat is timely to further strengthen our bancatakaful portfolio as one of our key business drivers and signify a significant leap forward to maintain our foothold in the insurance and takaful industry,” Nor Azman said.

Meanwhile, Bank Muamalat president and chief executive officer Khairul Kamarudin said the bancatakaful partnership marks a significant stride towards its goal of becoming the strongest Islamic bank in Malaysia while reinforcing its position as an Islamic bank for all.

“By joining forces with Takaful Malaysia, we are not only expanding our product offerings but we are also reaffirming our commitment to financial inclusion, ensuring that everyone in our diverse customer base can access comprehensive protection solutions.

“Together, we are one step closer to realising our vision of being the leading and most inclusive financial institution in the Islamic banking landscape,” said Khairul. — BK