KUALA LUMPUR: The Takaful industry recorded positive growth in both general and family takaful businesses in 2015, said the Malaysian Takaful Association (MTA).
Meanwhile, he said the family takaful business registered RM3.64 billion new business contributions in 2015, an increase of 3.9 per cent compared to 2014.
Currently in its sixth year running, the annual dinner and awards night was jointly-organised by MTA and Takaful practitioners in Malaysia to celebrate the achievements of the industry as well as the achievers who had performed outstandingly well last year.
The event was graced by the Sultan of Perak, Sultan Nazrin Muizzuddin Shah, the royal patron for Malaysia's Islamic Finance Initiative.
Ahmad Rizlan called on members to get acquainted with the new life Insurance and family takaful framework guideline, citing that it would become the new mantra for the industry as it requires improvement on efficiency and effectiveness of distribution channels and promote product innovation.
Ahmad Rizlan said the emergence of so-called online intermediaries or cyber agents in Malaysia, such as iMoney, Loanstreet, Ringgitplus and Insurance finder have set the scene in comparing and promoting financial products online.
Islamic Investment Malaysia: www.islamic-invest-malaysia.com