1. June 16, 2008 Takaful Successful Islamic insurance operations in the 21 st century Ahmad Feizal Sulaiman Khan Head, Business Development, Etiqa - ICBU [email_address]
10. Art of wealth Entrepreneurial ambition Capital growth Income/Capital preservation Capital protection One Stop Centre - Holistic Service Offering Art of wealth Realising one’s interests in society, culture, leisure or the arts. Entrepreneurial ambition Development/expansion of entrepreneurial activities & talents . Growth Structures allowing a LT increase in wealth. Income, capital preservation Preserving standards of living & continued cash flows. Capital protection Building, protecting & transferring wealth Success!? of Takaful
17. The Malaysian Takaful Journey Special Task Force 1982 Takaful Act 1984 1984 Syarikat Takaful 1983 Bank Islam 1993 Takaful Nasional 2001 Mayban Takaful 2003 Takaful Ikhlas Commerce Takaful 2005 2006 4 New licences MIFC
24. Est.1.7bln Muslims globally + Muslims seeking out halal products + Dedicated Global Takaful players + Utilising world class insurance skills = Successful Global Takaful With technology - Launch products in a month’s time... Conclusion = Success Formula
26. Old and new structure Mayban Fortis Sdn Bhd Mayban Fortis Sdn Bhd MLA MGA TN MNI MTB eTiQa Takaful eTiQa Insurance Old New Former MTB and TN Former MLA, MGA and MNI Fortis Insurance Maybank Fortis Insurance Maybank 70% 30% 30% 70% eTiQa