Syarikat Takaful Group Signs Two Bancatakaful Service Agreements with RHB Islamic Bank

In a filing with Bursa Malaysia, Syarikat Takaful Malaysia Keluarga and its subsidiary Syarikat Takaful Malaysia AM (Syarikat Takaful Group), have signed two Bancatakaful service agreements with RHB Islamic Bank, including a family Bancatakaful service agreement.

As per the first agreement, RHB Islamic Bank will sell, distribute and endorse family credit Takaful products developed by Syarikat Takaful Group, in exchange for an MYR 145 million facilitation fee paid to RHB Islamic Bank. In a statement issued, Syarikat Takaful Group stated the right to refuse to develop and market family advisory Takaful products suggested by RHB Islamic Bank.

Under the second general Bancatakaful agre...