Takaful Ikhlas converts licence to manage family and general takaful businesses



1 Dec 2018

New Sarawak Tribune

KUALA LUMPUR: Takaful Ikhlas Bhd yesterday announced the conversion of its composite takaful licence into two entities to manage its family and general takaful businesses separately.

This conversion is in accordance with the legislative requirement under the Islamic Financial Services Act, 2013 (IFSA).

Takaful Ikhlas will be renamed as Takaful Ikhlas Family Bhd and manage the family takaful business while the general takaful business will be managed by a new entity, Takaful Ikhlas General Bhd.

This exercise is set to bring about a more focused effort to serve its customers better, said Takaful in a statement, adding that the new structure also reflected Takaful Ikhlas’ commitment to the respective businesses to ensure efficient management of capital and resources to create opportunities for continuous growth.

To lead the new corporate structure, MNRB Holdings Bhd president and group chief executive officer Mohd Din Merican would take on the additional role of president and chief executive officer of Takaful Ikhlas Family.

Eddy Azly Abidin, previously the Takaful Ikhlas senior vice-president and chief business operations officer general, has been appointed as the Takaful Ikhlas general president and CEO.

“Even though we are now running as two separate entities, we will continue to uphold the “Takaful Ikhlas” brand name and are committed to provide the best to our customers and drive long-term shareholder value.

“All the terms and conditions of the existing takaful certificates issued by Takaful Ikhlas remain unchanged. All our contact details as well as our branch offices will be maintained to ease customers’ dealings with us”, he added. –Bernama