The Malaysian Takaful Association (MTA) has launched Hijrah27, an ambitious strategic transformation framework aimed at reshaping the landscape of Takaful in Malaysia.

Under the theme “Sama Berlindung, Sama Beramal, Sama Berjaya… Takaful Untuk Semua,” Hijrah27 focuses on making Takaful the preferred choice for protection across Malaysia.

Hijrah27 seeks to propel the Takaful industry forward through eight strategic thrusts, encompassing digital innovation, regulatory governance, increased public awareness, and expanded access to underserved segments, particularly micro, small, and medium enterprises (MSMEs).

It also prioritises enhancing professionalism among Takaful representatives and advancing environmental, social, and governance (ESG) principles, ensuring that Takaful delivers both financial and societal benefits.

The launch of Hijrah27 comes after MTA’s ISLAH23 Reform Plan (2022-2023), which laid the groundwork for modernising the industry and is closely aligned with Malaysia’s Financial Sector Blueprint 2026 and the Value-Based Intermediation for Takaful (VBIT) framework, positioning the industry for cohesive growth and future-readiness.

“The Takaful industry has come a long way. With the penetration rate rising to 20% from 15% and assets doubling to RM55.6 billion, we envision a future where Takaful protection is accessible and relevant to every Malaysian. This is our mandate, and Hijrah27 will be the catalyst for inclusive protection and social security for all,” MTA Chairman Elmie Aman Najas said when commemorating the 40th anniversary of Takaful. 

Meanwhile, Hijrah27 addresses 19 key challenges spanning awareness, distribution, digital, product competitiveness, talent and environmental, social and governance (ESG), identified through engagements with industry stakeholders and decision-makers.

By addressing these areas, Hijrah27 aims to boost Takaful’s reach and relevance, supporting a society-wide safety net.

In his closing remarks, Elmie underscored the collective commitment of the Takaful industry in driving Hijrah27’s objectives forward.

“Looking ahead, we want to make Takaful more relevant, accessible, and impactful. That is our mandate. We envision a future where Takaful protection is inclusive and  responsive to the needs of a diverse Malaysian population, catalysing and maintaining the growth momentum of Takaful. 

“We will continue to emphasise collaborations,  comprehensive awareness, and product and service innovation to widen protection for  the unserved and underserved rakyat so that every Malaysian has a social safety net,” he said.

• TAGS:
• Financial Sector Blueprint 2022-2026
• Malaysia Takaful Association
• MTA
• MTA Hijrah27
• MTA Reform Plan 2022-2023 (ISLAH 23)