04/05/2026

MONDAY | MAY 4, 2026

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BANKING & INSURANCE

Malaysian takaful industry reaches significant milestone

GoInsuran, Tokio Marine launch GoRideCare protection plan for motorcyclists PETALING JAYA: Motorcycle riders in Malaysia can now enjoy enhanced protection with GoRideCare, a com prehensive plan by GoInsuran.com and underwritten by Tokio Marine Insurans (Malaysia) Bhd. GoRideCare ensures both riders and their motorcycles are covered against the unexpected. A study by the Vehicle Theft and Accident Reduction Council of Malaysia found that 70% of fatal road accidents involve motorcycles although only 13% of them are caused by the motorcyclists themselves. Furthermore, the persistent threat of motorcycle theft continues to be a major concern for riders nationwide. While basic insurance fulfils minimum regulatory requirements, it frequently falls short of covering significant financial burdens resulting from major collisions, the rising rate of motorcycle theft, or natural disasters such as floods and landslides. GoRideCare was specifically de veloped to bridge this gap. Tokio Marine Insurans CEO Ng Hang Ming said, “Our collaboration with GoInsuran for GoRideCare allows us to extend our trusted protection to even more motorcycle riders, ensuring they have the confidence to enjoy the road ahead with comprehensive coverage they can rely on.” Echoing these sentiments, Joshua Yong, head of Tan Chong Insure (formerly Tan Chong Insurance business stream), stated, “GoRideCare reflects our shared vision with Tokio Marine to create a seamless, accessible, and value packed insurance experience for riders. Motorcyclists can secure their comprehensive protection through a 100% secure, online process, completely eliminating the need for physical visits.

Since the FSB Interim Report in 2023, the industry has implemented over 30 initiatives across five stra tegic thrusts, aligned with national priorities and Value-Based Inter mediation for Takaful, while contri buting to all 17 Sustainable Develop ment Goals and strengthening sus tainability and digitalisation efforts. The report provides an industry wide overview of progress, outcomes and impact under the Financial Sector Blueprint 2022-2026, inte grating sustainability, ESG and value based intermediation perspectives. MTA interim chairman Shahrul Azlan Shahriman said sustainability and talent will be key drivers of long term growth. “Our focus is to ensure that the industry not only delivers value, but does so with strong ethical foun dations and a future-ready workforce.” A key initiative includes MTA’s collaboration with the Financial Industry Collective Outreach (Finco) on a “train-the-trainer” programme to enhance financial literacy, incorporating risk protection and takaful awareness for educators and students. “This initiative creates a multi plier effect, where educators become catalysts in shaping financially responsible future generations,” said Mohd Radzuan. MTA is also collaborating with the Asian Institute of Insurance and the Chartered Institute of Islamic Finance Professionals on the Pro fessional Agency Management Pro gramme, alongside CIIF’s LEAD programme, to strengthen leader ship, professionalism and syariah focused guidance among agency leaders.

KUALA Malaysia’s takaful industry has completed 92% of its commitments under the Financial Sector Blueprint 2022 2026 (FSB) and is on track to deliver the remaining targets, according to the Malaysian Takaful Association (MTA). MTA CEO Mohd Radzuan Mohamed said the progress reflects stronger financial resilience, posi tioning Malaysia to better withstand future shocks, including geopolitical risks. “As shown in the report, our achievement against what we committed to deliver in 2022 is 92% has already been completed. We still have about 10 months to deliver the remaining 8% and, God willing, we will be able to achieve that,” he told the media recently at the launch of the 2025 Financial Sector Blueprint and Sustainability Report for Takaful. Mohd Radzuan said the blue print, introduced by Bank Negara Malaysia to support post-pandemic recovery, now also serves to prepare the financial system for future crises, including ongoing disruptions in the o Completes 92% of commitments under Financial Sector Blueprint 2022-26, on track to deliver remaining targets Ű BY HAYATUN RAZAK sunbiz@thesundaily.com LUMPUR:

Shahrul Azlan (left) and Mohd Radzuan at the launch of the Malaysian Takaful Association Financial Sector Blueprint and Sustainability Report 2025 and the announcement of a strategic tie-up between the association, Finco and the Asian Institute of Insurance.

felt like a ‘war zone,’ this time, even if the situation becomes as severe, most Malaysians are likely to be better prepared.” He added that improved aware ness and preparedness at the individual level will play a key role in strengthening overall national resilience. Mohd Radzuan said MTA has reinforced its commitment to sus tainability and talent development through strategic initiatives and collaborations under the Hijrah27 agenda, in conjunction with the launch of the 2025 Financial Sector Blueprint and Sustainability Report for Takaful.

Middle East. “Looking at recent developments, including disruptions such as those in the Middle East, we are beginning to see the possibility of another situation that could be as serious as Covid.” He said Malaysia is now better prepared to face future challenges following industry-wide programmes implemented in recent years. Malaysians are also better prepared compared with the onset of the pandemic in 2020, supported by higher financial literacy and greater awareness of protection needs, Radzuan said. “If during Covid we entered what

CIMB Islamic mobilises RM750,000 for Terengganu melon programme PETALING JAYA: CIMB Islamic Bank Bhd continues to drive inclusive and sustainable development through its flagship iTEKAD initiatives with the iTEKAD CIMB Islamic Melon Manis Terengganu Graduate Agropreneur Programme. thoughtfully integrating financial inclusion with capacity building, we empower students to develop resilient livelihoods while streng thening local agro based value chains and enhancing income opportunities in Terengganu Terengganu. The programme is part of Bank Negara Malaysia’s iTEKAD initiative, a national Islamic social finance plat form, implemented by CIMB Islamic to drive inclusive economic empower ment.

Under this initiative, CIMB Islamic launched three key programmes – the i TEKAD Program Keusahawanan CIMB Islamic-Taylor’s , the iTEKAD CIMB Islamic Rider Entrepreneur Asnaf Programme, and the iTEKAD CIMB Islamic Melon Manis Terengganu Agropreneur Programme. By mobilising zakat, waqaf and impact investments, these pro grammes provide financial support, structured capability development, and market access to empower underserved communities and micro entrepreneurs. Through these efforts, CIMB Islamic continues to advance inclusive growth and strengthen long-term resilience nationwide and foster greater social impact and economic opportunities across all levels of society.

Banking & Finance Delivered in collaboration with Yayasan DiRaja Sultan Mizan (YDSM) and UniSZA, the programme equips youth from the underserved and asnaf communities with technical expertise, entrepreneurial skills and access to essential resources with structured training and hands-on agricultural experience, enabling participants to thrive in modern agriculture. “Beyond supporting individual participants, the programme helps nurture a new generation of future ready agropreneurs by creating practical and sustainable pathways for youth to participate in high-growth high-value sectors for the nation, particularly modern agriculture, con tributing to a more resilient and inclusive food security landscape overtime.”

Since 2023, the bank has mobilised RM750,000 in seed funding to empower 40 underserved and asnaf students across two cohorts through sustainable agropreneurship, re sulting in the cultivation of about 12,000 Melon Manis Terengganu (MMT) plants, a premium crop with high commercial potential. Following the success of its inaugural cohort, CIMB has com mitted to expand the programme for a second cohort, extending training and production across four green houses in Universiti Sultan Zainal Abidin (UniSZA) Besut Campus. CIMB Group CEO Novan Amirudin said, “This programme reflects our commitment to advancing customers and society by harnessing Islamic social finance as a catalyst for inclusive and sustainable nation building. By

From left: Novan, CIMB Group chairman Datuk Syed Zaid Albar, UniSZA vice chancellor Prof. Datuk Dr Fadzli Adam and CIMB Islamic CEO Ahmad Shahriman Mohd Shariff visiting the greenhouse of iTEKAD CIMB Islamic Melon Manis Terengganu Graduate Agropreneur Programme at UniSZA Besut Campus.

each per harvest, underscoring the viability of agro-based entrepre neurship as a sustainable long-term pathway for graduates and youth in

All participants from the inaugural cohort have remained active in the programme, collectively achieving an average income of around RM3,000

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