Malaysia’s Takaful Industry Releases VBI for Takaful Framework to Encourage Players to Realise Shariah Objectives 

Malaysia’s Takaful industry has taken strides to embrace the Value-based Intermediation (VBI) agenda, with the unveiling of the VBI for Takaful (VBIT) Framework on the 23rd of June 2021. The Framework serves as a guideline in implementing VBI practices and values in the Takaful industry, and is relevant to family Takaful, general Takaful and Retakaful operators.

Why it Matters?

According to the Malaysian Takaful Association (MTA), the VBIT Framework encourages industry players to realise the objectives of Shariah, or Maqasid al-Shariah. The Framework also provides an in-depth evaluation of the thrusts of VBIT, which include Financial Resilience, Community Empowerment, Good Self-Governance and Best Conduct. According to Elmie Aman Najas, Chairman...