Page 99 - Full Book_24.4.2021

In Retrospect

|
The Will to Suceed

|
CHALLENGES & OPPORTUNITIES: However, this will not reduce potential collaborations with Bank
TAKAFUL MALAYSIA Islam as a strategic bancatakaful partnership with the Bank has
already been established over the years. Furthermore, Bank Achieving a Leading Repute
Increased competition and digital leadership are key challenges Islam has been a premier bank partner in distributing Takaful
for the Takaful market. However, Takaful Malaysia has been Malaysia’s extensive range of takaful solutions to its clientele
agile, highly adaptive and quick to execute effective business via telemarketing and face-to-face distribution channels.
strategies in an increasingly competitive marketplace. During Both companies are now starting to implement new business |
the year, Takaful Malaysia stayed at the forefront of the digital strategies and partnerships in penetrating retail banking
transformation in the Islamic insurance industry. They provide customers for regular contributions within the new and strategic
an enhanced and new range of products with cutting-edge growth areas.
features in addressing the consumers’ suitable unmet protection Paving the Way for a Sustainable Future
needs. They remained a top agenda for delivering growth Propelling towards new milestones, Takaful Malaysia aims to
and spearheading the industry. The company’s technological strengthen its role and impact as the leading takaful operator
capability and innovative Takaful solutions, in addition to efficient by adopting practices, offerings, and conduct that generate
service delivery, have enabled strong business partnership with its positive and sustainable impact to the economy, community, and
bank partners and other intermediaries to build more business. environment, in line with shareholder’s sustainable returns and
long-term interests. Its key focus will be on maintaining lower 95
Moving forward, Takaful Malaysia intends to constantly invest in costs, better balance sheet supervision, and robust business
new technology solutions and enhancing its digital capabilities. growth, profitability, and financial position.
It aims to improve operational efficiency, customer support and
sales opportunities to compete in the insurance and Takaful CHALLENGES AND OPPORTUNITIES:
space, apart from developing a performance-oriented culture BIMB SECURITIES
and good corporate governance to hone a competitive edge.
Towards enhancing its digital agenda to empower clientele and As for BIMB Securities, post-transition, it plans to extend Adhering to the Best Governance Practices
improve customer experience, the key strategic focus includes offerings to a more mixed balance of customer profiling from the
introducing innovative online protection solutions, increased Institutional and Retail Dealing, both domestically and foreign.
distribution capabilities, strategic collaborations with leading This includes the AMSMF proposition to ensure sustainability and
Islamic financial institutions, and advanced marketing strategies support for the retail-driven profile of Bank Islam group, with |
to strengthen brand-building efforts. the increase in funds allocated for SMF and the introduction
of new products. BIMB Securities also plans to offer global
The upcoming transfer of listing shall enable Takaful Malaysia trading capabilities to Institutional clients by the second half of
to take a long-term view of its business development and 2021 while, at the same time, increasing its international trade Laying the Foundation for Financial Growth
exploit the full range of its commercial strengths. It will produce offerings to retail clients.
sustainable growth in shareholder value, particularly Takaful
Malaysia’s flexibility to strengthen its existing strategic partnership
and establish potential synergy with other Islamic financial
|
institutions without potential concern from these institutions on
Additional Information & Disclosure Summary
rival competitors within the banking sector.

|
24 th AGM Information