CIMB Islamic launches first-in-market Takaful Mulia, facilitating financial protection and religious obligations

CIMB Islamic Bank Berhad launches Takaful Mulia, a first-in-market Takaful policy specially designed for Muslims to benefit from coverage upon death or Total Permanent Disability (TPD), savings and benefits related to Islamic religious obligations such as waqf, zakat, fidyah/sadaqah, and hajj/umrah. Takaful Mulia also provides an additional 100% of sum assured for accidental death or TPD that occurred in a mosque or surau, and/or while performing the Hajj or Umrah. Takaful Mulia is the latest addition to CIMB Islamic’s suite of Takaful solutions developed exclusively for CIMB Islamic by its bancatakaful partner, Sun Life Malaysia Takaful Berhad.

Rafe Haneef, CEO, Group Islamic Banking, CIMB Group says, “CIMB Islamic, in partnership with Sun Life Malaysia, has always focused on the best value proposition for our customers. Through innovative and compelling propositions such as this first-in-market Takaful Mulia, subscribers can fulfil their religious obligations, even upon death or total permanent disability. With CIMB Islamic and Sun Life Malaysia’s combined capabilities, customers can look forward to further innovative products that make takaful both functional and spiritually fulfilling as part of their financial planning journey based on Shariah principles.”

Muhammad Fikri Mohamad Rawi, CEO, Sun Life Malaysia Takaful Berhad adds, “Charity is one of the few deeds in Islam that need not end upon a person’s demise. We are proud to have partnered with CIMB Islamic to offer this innovative Takaful Mulia which helps CIMB clients to not only leave something for their loved ones upon their demise, but also fulfil their religious obligations of waqf, zakat, and sadaqah. Takaful Mulia has definitely struck the right balance between protection, savings and spiritual fulfilment, setting a new benchmark in Malaysia’s takaful industry.”

Benefits of Takaful Mulia include Financial and Protection Benefits as well as spiritual benefits. Takaful Mulia is also offered as part of the recently launched CIMB F.I.R.S.T., a holistic financial planning proposition that is unique to each customer’s needs and life stage.

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