Bank Islam And Takaful Malaysia Forge Strategic Joint Venture To Enhance Financial Security

Samuel Chua

21st March 2025 - 2 min read

Bank Islam has entered into a strategic joint venture agreement with Syarikat Takaful Malaysia Keluarga Berhad (Takaful Malaysia), aiming to strengthen their long-standing partnership and deliver more effective financial solutions to customers.

This collaboration is expected to significantly enhance the financial protection offered to Bank Islam customers by providing access to a suite of comprehensive, Shariah-compliant takaful products, managed by Takaful Malaysia. These offerings include Takaful mySmart Wealth Plus, Takaful myPrime Cover, and Takaful mySmart Legacy, designed to cater to essential protection needs.

Dato’ Mohd Muazzam Mohamed, Group Chief Executive Officer of Bank Islam, stated that the initiative is a reflection of the bank’s ongoing dedication to offering innovative, relevant, and Shariah-compliant services that meet the evolving needs of its customers.

“Bank Islam customers can now obtain takaful products offered by Takaful Malaysia through all sales channels at Bank Islam branches nationwide,” he said.

Nor Azman Zainal, Group Chief Executive Officer of Takaful Malaysia, echoed the sentiment, highlighting the importance of strategic collaboration in expanding reach and influence.

“Takaful Malaysia will continuously strengthen its strategic cooperation with Bank Islam by offering a variety of comprehensive and Shariah-compliant protection plans for customers. We firmly believe that the synergy and expertise shared with Bank Islam will strengthen our business portfolio in the family and general takaful segments.

“It aligns with our business strategy to explore new opportunities and expand our reach to potential markets. Our goal is to be the leading takaful provider that drives economic growth and empowers the community with more inclusive and secure financial solutions,” he said.

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