TAKAFUL MALAYSIA, AGROBANK TARGET AGRICULTURAL COMMUNITIES VIA BANCATAKAFUL STRATEGIC COOPERATION

KUALA LUMPUR, Dec 9 (Bernama) -- Syarikat Takaful Malaysia Keluarga Bhd, the first takaful operator in Malaysia, and its wholly owned subsidiary Syarikat Takaful Malaysia Am Bhd in collaboration with Bank Pertanian Malaysia Bhd (Agrobank) are targeting the agricultural communities through the bancatakaful plan.

Agrobank president/chief executive officer Datuk Tengku Ahmad Badli Shah Raja Hussin said this comprehensive plan targets farmers (crop and livestock breeders) and fishermen, especially those who do not get an adequate takaful protection plan.

“These target groups do not realise the importance of personal protection schemes, medical, accident and so on, so this takaful is specially made for those who cannot afford high premiums.

“Through this bancatakaful, our company provides a premium protection plan for as low as RM10 per year, so this can help provide protection to these target groups,” he told reporters after a memorandum of understanding (MoU) signing at a hotel here.

He said that in addition to the protection plan, specific takaful products such as affordable retirement, education and medical plans will be introduced to agropreneurs from the disadvantaged and underserved communities such as the B40 group, asnaf, women and people with disabilities (OKU).

“This move is part of the bank's 'Beyond Banking' initiative to close the gap in takaful protection, especially among rural communities, in addition to ensuring the future when faced with difficult situations,” he said.

He also said this collaboration will provide takaful solutions to all Agrobank customers with the aim of developing at least two takaful products (protection plans) each year specifically to meet the needs of the business community in the agricultural sector such as farmers (crop and livestock breeders) and fishermen who were previously not the main focus of industry players.

Meanwhile, Takaful Malaysia group chief executive officer Nor Azman Zainal said the company has also allocated RM1 million every year during this bancatakaful partnership for Agrobank customers who are asnaf or zakat recipients, in line with the company's corporate philosophy to improve lives and contribute towards a caring society.

“We will continue to leverage our leading market position in credit related products, strong general takaful business as well as focus on expanding the retail market to diversify our business portfolio and ensure sustainable business in the future to complement our existing core business.

“This strategic partnership between Takaful Malaysia and Agrobank will benefit both parties through greater synergies by leveraging Agrobank's distribution network and customer base as well as our wide range of family and general takaful protection solutions,” said Nor Azman.

This bancatakaful strategic partnership will give Takaful Malaysia access to Agrobank's customer base, branch network and sales force, while Agrobank will be able to expand the range of Takaful Malaysia products to meet the protection needs and give higher value to its customers.

-- BERNAMA