AmIslamic in deal to offer takaful investment products


AMISLAMIC Bank has signed a tripartite distribution agreement with Takaful IKHLAS Sdn Bhd and Munich-based international financial services group, FWU AG, to offer takaful investment products in Malaysia.

Under the deal, a takaful investment-linked plan will be distributed through AmBank and AmIslamic Bank’s branches throughout the country.

AmIslamic Bank’s chief executive officer Ahmad Zaini Othman said the product would be initially introduced at the bank’s 50 branches in Klang Valley.

He said two equity-linked products are also expected to be launched in three months.

FWU AG is the product designer, manager of the process and system provider for the online takaful investment-linked plan.

Takaful IKHLAS, meanwhile, will act as the trustee in supplying the syariah compliant investment-linked plan while AmIslamic Bank will administer the plan.

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