Takaful News - Malaysia: BIMB to Balance Takaful and Other Operations

Source: Middle East Insurance Review | Mar 2007

The BIMB group says that it is working to reach a balance in the performance of its Islamic banking arm, Bank Islam Malaysia; takaful operation, Syarikat Takaful Malaysia, and BIMB Securities.

BIMB Group Managing Director, Datuk Noorazman A Aziz, expresses confidence that this objective would be met given the 20% annual growth enjoyed by the takaful division.

At present, Bank Islam accounts for 85% of the group’s total revenue, with Syarikat Takaful and BIMB Securities making up the remainder.

On the group’s 66%-owned Indonesian takaful outfit, he says that obstacles in its operations have been overcome and the company would make a strong return this year. BIMB is the biggest takaful operator in Indonesia with 25 branches.

“Our takaful operations in Indonesia will account for 20% to 25% of the group’s total takaful revenue in the financial year ending 30 June 2007,” he said.

Comment | Print

Name*

Email*

Comment*

Code Verification*

Enter the code shown above in the box below.

Note that your comment may be edited or removed in the future, and that your comment may appear alongside the original article on websites other than this one.