21/04/2025

BANKING & INSURANCE 12 MONDAY | APR 21, 2025 Takaful Ikhlas General announces record RM6.3m surplus distribution PETALING JAYA: Takaful Ikhlas General Bhd, a subsidiary of MNRB Holdings Bhd, recently announced a record-breaking surplus distribution of RM6.3 million for the financial year ended March 31, 2024. This marks the highest surplus payout in the company’s history, benefiting about 1.1 million eligible participants. The surplus, generated from the company’s Participants’ Risk Fund, reflects Takaful Ikhlas General’s strong financial performance and prudent risk management. Datuk Rudy Rodzila Che Lamin, interim president and group CEO of MNRB Holdings, and president and CEO of Takaful Ikhlas General, said: “This achievement underscores our commitment to financial resilience and responsible risk management. More importantly, it enables us to give back to our valued participants, who have placed their trust in us. Their continued support motivates us to continuously enhance our services, ensuring they receive reliable and accessible protection.” By distributing this surplus, he added, they are not just fulfilling their commitment but also reinforcing the fundamental values of takaful – transparency, fairness and mutual support. “We remain steadfast in our mission to provide high-quality financial protection while upholding the values of fairness and shared prosperity,” Rudy Rodzila said. Allianz Life rolls out investment-linked plan with medical rider PETALING JAYA: Allianz Life Insurance Malaysia Bhd has unveiled a next-generation investment-linked plan, Allianz AssuredLink, with medi cal rider HealthAssured, designed to offer Malaysians enhanced medical protection and greater financial security. “At Allianz Life, we continuously innovate to meet our customers’ evolving healthcare needs. With Allianz AssuredLink and HealthAssured, we are introducing a medical plan that offers extensive coverage and added value so Malaysians can focus on their health and medical without the burden of financial uncertainty,” Allianz Life CEO Charles Ong said. HealthAssured incorporates new features such as welcome benefits – which allow customers to enjoy a 20% discount on the cost of insurance (COI) at sign-up. Meanwhile, customers get to enjoy the 20% COI discount with no-claim benefit as long as no claim was made during the review period. Also, customers can choose between 5% or 15% co-insurance based on their financial needs. In addition, signing up during the Assured Booster Campaign, which runs until April 30, gives customers exclusive benefits. With these perks, customers gain extra medical coverage at no addi tional cost.

Boost Bank and CGC Digital collaborate to support MSMEs

strategy that synergises Bitcoin with Islamic deposits, offering our custo mers a secure gateway to the digital asset landscape. This initiative underscores our unwavering com mitment to delivering cutting-edge solutions while aligning seamlessly with the strategic pillars of the Affin Axelerate 2028 Plan – unrivalled customer service, digital leadership and responsible banking with impact.” The fund is a close-ended whole sale fund open to sophisticated investors only. Investors are expected to have a short-medium term horizon of two years. The initial minimum investment is RM10,000 with an initial sales charge of up to 2% and annual management fee of 1%. opportunities with ease with its swift financing disbursement feature, which enables businesses to receive funds in as fast as two working days upon approval of the loan. Boost Bank CEO Fozia Amanulla said, “At Boost Bank, we understand the unique needs of MSMEs and the critical role financing plays in their growth. In line with our mission to drive financial inclusion and growth for underserved com munities, we are committed to providing a platform that opens doors to growth, empowering businesses to overcome challenges and achieve success. “This partnership with CGC Digital strengthens our ability to offer seamless, fast, and accessible financing solutions, empowering MSMEs to overcome challenges and seize growth opportunities. We will continue to innovate trans formative offerings that will elevate the MSME landscape in Malaysia.” Meanwhile, CGC Digital CEO Yushida Husin remarked that Boost Bank is their first digital bank partner, marking a significant milestone in their journey towards facilitating access to financing with digital-first partners. By collaborating with Boost Bank, he said, they can offer seam less, efficient, and accessible finan cial products that cater to the unique needs of MSMEs. “This partnership is a significant step forward in our mission to support underserved MSMEs by providing them with the financing they need to succeed. It also aligns perfectly with the purpose for which CGC Digital was established – collaborating with digital-first partners. “We are excited about the potential this partnership holds and are eager to explore further collaborations with other digital first players in the industry. “Our goal is to continuously enhance our offerings, ensuring that we remain at the forefront of financial innovation,” she added.

growth opportunities. Boost Bank’s term loan financing offers MSMEs a convenient appli cation process with minimal documentation required for loan amounts from RM50,000. The facility features a financing tenure of up to 36 months with no early settlement fees, facilitating effective cash flow management by borrowers. Businesses also enjoy flexible repayment options to be more in sync with their cash flow needs without incurring any penalty. The revolving credit financing offers MSMEs flexibility to manage their cash flow and rise to business

o Digital lender readies RM130 million financing, partner provides guarantee cover

PETALING JAYA: Boost Bank, the nation’s first home-grown digital bank has partnered with CGC Digital, a fintech subsidiary of Credit Guarantee Corporation Malaysia Bhd, to enhance support for eligible underserved micro, small and medium enterprises across Malaysia. Under this partnership, a total of RM130 million has been earmarked for Boost Bank’s financing solutions

in the form of a term loan facility and a revolving credit facility. CGC Digital will provide CGC’s guarantee cover through bundling with Boost Bank’s MSME financing solutions to strengthen MSME access to finance. This offering aims to reach out to thousands of MSMEs and bridge the critical financing gap these businesses face, while enabling them to en hance operations and capitalise on

Fozia (left) and Yushida at a ceremony to mark the collaboration between Boost Bank and CGC Digital to empower MSMEs with RM130 million in financing.

Affin Bank to distribute Halogen Shariah Defensive Bitcoin Fund

PETALING JAYA: Halogen Capital, Malaysia’s first licensed digital asset fund manager, recently signed an agreement with Affin Bank Bhd on the distribution of the Halogen Shariah Defensive Bitcoin Fund, which has an integrated capital preservation strategy. The fund aims to provide high net-worth individuals and insti tutional investors with a low-risk and secure pathway to harness the growth potential of Bitcoin. The fund will employ a buy-and hold strategy that is a combination of low-risk islamic deposits and high-growth active asset, Bitcoin. This approach ensures the portfolio value is safeguarded from signi

access high-growth opportunities in the digital asset market without experiencing significant capital loss and maintaining syariah compliance.” Through its distribution of the fund on behalf of Halogen Capital, Affin Bank is looking to introduce a risk-managed alternative for in vestors, bridging the gap between traditional financial principles and the dynamic digital asset market. The fund serves as an ideal solution for investors looking to diversify their portfolios with innovative yet secure investment options. Affin Bank Group community banking executive director Mohammad Fairuz Mohd Radi said,“We are delighted to introduce an innovative investment

ficant market volatility, providing investors with both stability and potential upside. “The Halogen Shariah Defensive Bitcoin Fund is redefining how high net worth and institutional investors approach digital asset investments in Malaysia,” said Halogen Capital founder and CEO Hann Liew. “By combining Bitcoin’s high-growth potential with a capital preservation strategy, we are providing a solution that is both innovative and practical.” He added: “In volatile markets, this fund acts accordingly, ensuring investors can confidently navigate downturns without compromising on long-term returns, in which we recognise the need for investors to

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