KUALA LUMPUR, Aug 7 (Bernama) -- Takaful Ikhlas General Berhad (“Takaful IKHLAS”), a wholly owned subsidiary of MNRB Holdings Berhad and leading Islamic bank, CIMB Islamic Bank Berhad (“CIMB Islamic” or “the Bank”), today launched their strategic bancatakaful partnership to provide general takaful products and solutions to CIMB Islamic’s customers across retail, SMEs and commercial segments. The partnership’s joint growth target for the general Takaful business is RM168 million, or 11% y-o-y over the next five years.
 
The strategic partnership was launched by Eddy Azly Abidin, President & Chief Executive Officer of Takaful Ikhlas General Berhad and Rafe Haneef, Chief Executive Officer of CIMB Islamic.
 
With this strategic partnership, Takaful IKHLAS will be the preferred general takaful provider to all CIMB Islamic customers. CIMB Islamic will leverage on Takaful IKHLAS’ wide range of offerings including Motor and Home Protection as well as coverage for commercial subscribers such as Fire, Construction, Workmen, Equipment, Marine and Liability, to cater to customers’ growing demand for shariah compliant takaful products. Takaful IKHLAS will, in turn, leverage on CIMB Islamic’s extensive distribution channels comprising the Bank’s 250 branches nationwide, online platforms and call centres. As the general takaful industry is expected to grow around 7% in 2019, both Takaful IKHLAS and CIMB Islamic are confident that their strategic partnership will catalyse new business and contribute to that growth.
 
Commenting on his aspiration regarding the partnership, Eddy Azly said “We are excited to bring our best-in-class takaful solutions to serve the growing segment of the Islamic financial industry. This partnership will be built on both organizations’ shared commitment and ambition to drive greater takaful penetration rates. CIMB Islamic is also our first financial institution partner whose customers will benefit from our value-based initiative for the community called the IKHLAS Waqf and Endowment (IWE) programme. IWE amounting RM1,000 will be endowed under the participant’s name, upon demise due to an accident, to recognised waqf and endowment institutions selected by Takaful IKHLAS. We look forward to serving CIMB Islamic customers by offering them our IKHLAS hospitality.”

Rafe Haneef said, “Customers are at the heart of all our initiatives, and through this strategic partnership, we are delighted to offer a broad range of takaful offerings. Having an experienced partner with a strong 16-year track record is also key in ensuring quality takaful products for our customers. Coupled with CIMB Islamic’s distribution capabilities, this synergistic partnership offers takaful products that fulfil our customers’ needs not only by providing adequate coverage, but also by delivering it efficiently through online platforms. Apart from our branch network, for the first time, our customers will be able to purchase these Takaful products through our CIMB Clicks platform by end-2019.”.
 
In keeping abreast with digital innovation and building customer centricity, this collaboration will see Takaful IKHLAS extending its upcoming digital platform to promote its products online including Motor, Travel PA and Travel Hajj. This digitalisation initiative is also well aligned with one of the objectives of CIMB Group’s Technology & Data pivot – under its current mid-term growth plan, Forward23 – by providing its customers with cost-efficient and convenient access to more and more of its products through its one-stop digital banking platform.
 
About Takaful IKHLAS

 
Takaful IKHLAS offers a comprehensive range of family and general takaful products. Its distribution channels comprise of highly knowledgeable and well-trained agents, brokers, financial institutions, motor franchise holders and the digital platform. Takaful IKHLAS has 13 regional offices and over 7,000 agents. For more information, please visit www.takaful-ikhlas.com.my.
 
FOR ANY INQUIRIES, PLEASE CONTACT:                          
Name: Puan Noorazimah Tahir 
Vice President    
Head, Corporate Communications              
MNRB Holdings Berhad 
Tel: 03-2096 8120             
Email: azie@mnrb.com.my           
 
Name: Cik Mahanom Abdullah
Executive
Corporate Communications
MNRB Holdings Berhad
Tel: 03-20968123
Email: mahanom@mnrb.com.my
 
About CIMB Islamic Bank
 
CIMB Islamic Bank, licensed under the Malaysia’s Islamic Financial Services Act 2013, is the main operating entity of the CIMB Group's global Islamic banking and finance franchise.
 
It operates in parallel with the Group’s universal banking platform and offers Shariah-compliant products and services to the Group's consumer banking, investment banking, asset management and investment businesses.
 
CIMB Islamic’s services, products and operations comply strictly with global Shariah principles and standards under the guidance of the CIMB Islamic Board Shariah Committee which comprises of world renown Shariah experts and scholars. CIMB Islamic provides comprehensive and innovative Shariah-compliant financial products and services to meet the needs of individuals, small and medium scale enterprises as well as large institutional customers.
 
CIMB Group's Islamic banking and finance business is supported by the Group’s network of around 36,000 employees in 16 countries comprising an experienced senior management team and a global team of Islamic banking and financial services professionals in all core components of the Islamic banking and financial services market. CIMB Group also has the most extensive retail branch network in ASEAN, with around 780 branches as at 31 March 2019.
 
Source: CIMB Group
 
FOR MORE INFORMATION, PLEASE CONTACT:
Name: Suria Zainal
Head
Group Corporate Communications
CIMB Group Holdings Berhad
Tel: +603 - 2261 0638
Email: suriawati.zainal@cimb.com
 
--BERNAMA