TAKAFUL IKHLAS CONVERTS ITS COMPOSITE LICENSE TO TWO SEPARATE LICENSES FOR FAMILY TAKAFUL AND GENERAL TAKAFUL BUSINESS

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30 Nov 2018

Kuala Lumpur, 30 November 2018 - Takaful Ikhlas Berhad today announced the conversion of its composite takaful license 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 Berhad is renamed to Takaful Ikhlas Family Berhad (Takaful IKHLAS Family) and manages the family takaful business. Its general takaful business is being managed by a new entity, Takaful Ikhlas General Berhad (Takaful IKHLAS General). This exercise is set to bring about a more focused effort to serve its customers better. This new structure also reflects Takaful IKHLAS’ commitment on the respective businesses to ensure efficient management of capital and resources to create opportunities for continuous growth.

To lead this new corporate structure, the Board is pleased to announce that Encik Mohd Din Merican has been appointed as the President and CEO of Takaful IKHLAS Family and Encik Eddy Azly Abidin have been appointed as the President & CEO of Takaful IKHLAS General.  Encik Eddy Azly was previously the Senior Vice President & Chief Business Operations Officer, General of Takaful IKHLAS. As for Encik Din Merican, he continues in his current role as the President & Group CEO of MNRB Holdings Berhad in addition to this new role.

“Even though we are now running as two separate entities, we will continue to uphold the “Takaful IKHLAS” brand name and are committed in providing the best to our customers and driving long-term shareholder value”, said Mohd Din Merican.

“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 are maintained to ease customers’ dealings us”, he added.

For more information about Takaful IKHLAS Family and Takaful IKHLAS General, customers may visit www.takaful-ikhlas.com.my or contact Takaful IKHLAS Customer Service at 03-2723 9696 for more details.

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