Takaful Malaysia and Agrobank form strategic bancatakaful partnership

SYARIKAT Takaful Malaysia Keluarga Bhd and its wholly owned subsidiary, Syarikat Takaful Malaysia Am Bhd (STMA), have entered into a strategic bancatakaful partnership with Bank Pertanian Malaysia Bhd (Agrobank).

The partnership between Takaful Malaysia and STMA with Agrobank aims to promote and market credit-related family and general takaful products, while developing the advisory family takaful business.

“We also allocated RM1 million yearly throughout this bancatakaful partnership for Agrobank customers who are ‘asnaf’ or tithe recipients, in line with our corporate philosophy of improving lives and contributing towards a caring society,” said Takaful Malaysia group CEO Nor Azman Zainal in a statement today.

Agrobank CEO and president Datuk Tengku Ahmad Badli Shah Raja Hussin targeted a minimum of two takaful products per year or protection plans catered to agricultural business communities.

“In addition to the protection plan, specific takaful products such as affordable retirement, education and medical plans will be introduced to agropreneurs from these unserved and underserved communities which consist of the bottom 40% income (B40) group, ‘asnaf’, women and people with disabilities,” he remarked.

The memorandum of understanding (MoU) for the alliance was signed by Nor Azman, Tengku Ahmad Badli Shah and Mohamed Sabri Ramli, CEO of STMA, while being witnessed by newly appointed Agriculture and Food Security Minister Mohamad Sabu.

Takaful Malaysia’s share price fell 10 sen or 2.87% to RM3.38 at market close today, with a market capitalisation of RM2.83 billion. — TMR