Marking Another Accomplishment Malaysia’s Takaful Industry in Forging an international Strategic Alliance that will contribute towards advancing the global Takaful industry

 
KUALA LUMPUR, Jan 17 (Bernama) --  Malaysian Takaful Association (MTA) today signed a Memorandum of Agreement (MoA) with the Iranian Insurance Research Centre (IRC) to collaborate on knowledge-based enrichment programmes on Takaful with the aim of strengthening the landscape of the industry.
        
In recognising the importance of the development of the Takaful industry, the collaboration establishes a dynamic partnership to leverage each party’s experience and expertise in Takaful and Islamic finance as a whole for synergistic benefits. Through this collaboration, both organisations will cooperate on knowledge cultivation, training and education, exchange data intelligence and provide consultation, at the same time fostering an international relationship between the domestic insurance industries with the international insurance businesses.

Encik Mohd Radzuan Mohamed, Chief Executive Officer of MTA said, “We are happy to welcome the collaboration with the Iranian Insurance Research Centre as part of our commitment towards elevating the industry to new levels. This collaboration will be another contributing factor in pushing the development of the Takaful industry landscape and strengthening Malaysia’s position as the leading nation that best supports the multi-trillion dollar global Islamic economy.”

Being the third-largest Takaful market globally according to Islamic Financial Services Board, Malaysia has a vibrant Islamic finance ecosystem that includes Islamic financial institutions, regulators, sharia-compliant corporates, Islamic fund managers, and halal industries that seek Takaful products.

“The partnership marks another accomplishment for the Takaful industry in Malaysia in forging a strategic alliance aimed at attaining mutually synergistic benefits, while positioning our two nations towards achieving a dynamic, competitive, and efficient Islamic financial system that is able to contribute to economy, communities and country,” added Radzuan.

Both parties agree to cooperate based on their best endeavour and goodwill to promote and undertake the following activities in the fields of Islamic Finance and Takaful and to collaborate in contributing towards the establishment of a stream of well-trained highly skilled and ethical corporate Islamic Finance and Takaful professionals who will strive to benchmark themselves against the best in the world.

Encik Mohd Radzuan added, “This partnership would benefit both Malaysia and Iran in terms of the knowledge sharing on Takaful internationally. In addition, it can help to enhance the potential of Takaful and help to discover more opportunities ahead between both parties as well as contribute towards the establishment of well-trained and highly skilled Islamic Finance and Takaful professionals.”

This collaboration seeks to strengthen and expand the scientific relations of IRC with related academic institutions regarding the creation of joint scientific journals, joint multilateral scientific conferences, and international specialized workshops.
 
Issued by: MTA
 
 

ABOUT MALAYSIAN TAKAFUL ASSOCIATION (MTA)
Malaysian Takaful Association (MTA) is an association registered under the Societies Act 1966 and dedicated in promoting the interest of its members (all 18 licensed Takaful and Retakaful operators in Malaysia) and to supervise the exercise of self-regulation within the Takaful industry. The focus, among others, is on branding, awareness and communication, shared services through leveraging of technology, investment opportunities and relations with regulators. More information on MTA can be obtained from its website: www.malaysiantakaful.com.my
  
ABOUT IRANIAN INSURANCE RESEARCH INSTITUTE (IRC)
Iranian Insurance Research Center (IRC) came to existence in 2002. It is a pioneering research institute that develops necessary knowledge and training in the realms of insurance, risk, and takaful in Iran. Having professional staff and up-to-date training facilities, this academic and research center, consistent with the national macro policies of knowledge-based economy, its priority is to introduce pioneering researches in insurance, risk, and takaful. The main activities of IRC revolve around performing research projects, publication of books and journals, and training. The strategic plans of IRC mandate its research body to tailor the technical knowledge of insurance, risk, and takaful to address the problems of the insurance industry and to fulfil its scientific needs by conducting thorough studies and training.


SOURCE : Malaysian Takaful Association (MTA)

FOR MORE INFORMATION, PLEASE CONTACT:
Name : Puan Siti Nor Kamariah Ishak
Head, Corporate Communications
Malaysian Takaful Association (MTA)
Tel : 03-2031 8160
Fax : +603-2031 8170
Email : mtasecretariat@malaysiantakaful.com.my

--BERNAMA