KUALA LUMPUR: Syarikat Takaful Malaysia Keluarga Bhd
and its wholly owned subsidiary Takaful Malaysia Am have entered into a bancatakaful service arrangement with Affin Islamic Bank Bhd for five years, starting Jan 1, 2023.
In a filing with Bursa Malaysia, Takaful Malaysia said Affin Islamic shall distribute, market and promote credit-related, advisory and other family takaful products of Takaful Malaysia Keluarga and general takaful products of Takaful Malaysia Am.
"The bancatakaful arrangement shall provide Takaful Malaysia Keluarga Group access to Affin Islamic's customer base, branch network and sales force.
"In addition to maintaining and expanding the current core business of credit-related family and general takaful products, the Company will closely work with Affin Islamic to implement various strategies to develop the advisory family takaful business and invest in its distribution capabilities," said Takaful Malaysia.
It added that Affin Islamic has the option to extend the arrangement for a further five years following its maturity.
