Takaful Ikhlas-BSN partnership to boost Islamic financial services sector

KUALA LUMPUR, Sept 29 (Bernama) -- Takaful Ikhlas General Bhd (Takaful IKHLAS) and Bank Simpanan Nasional (BSN) will drive the Malaysian Islamic financial services growth with their latest bancatakaful partnership.

Takaful IKHLAS president and chief executive officer Datuk Rudy Rodzila Che Lamin said at launch of the  partnership today that Islamic financial solutions will be offered to the community under the five-year partnership with Takaful IKHLAS providing general takaful products to BSN’s retail and micro customers.

‘’This partnership will focus on three areas, namely, motor, houseowner and personal accident. We will also provide integrated digital capabilities to ensure seamless processes and transaction,’’ Rudy Rodzila said.

He said they will share research and expertise to develope and promote future innovative Islamic financial solutions.

BSN chief executive officer Jay Khairil said these general takaful products and solutions will help the bank to meet the financial needs of affluent and tech-savvy customers with BSN using its 390 branches nationwide as distribution channels.

‘’We expect to see immense commitment returns of up to RM305 million over the course of the collaboration,’’ Jay said.

BSN customers will also benefit from Takaful IKHLAS’ value-based initiative for the community known as IKHLAS Waqf and Endowment (IWE) programme, part of its Shariah-compliant fundraising platform IKHLAS Barakah House.

IWE amounting to RM1,000 will be endowed under the participant’s name on demise due to an accident to recognise Waqf and endowment institutions selected by Takaful IKHLAS.

-- BERNAMA