TAKAFUL - Malaysian Takaful Ikhlas conforms plans Indonesia not for this year

ISLAMIC insurer Takaful Ikhlas Sdn Bhd will tap vast opportunities in the domestic market including working with Bank Rakyat for cross-selling activities before considering expanding overseas.

President and chief executive officer Datuk Syed Moheeb Syed Kamarulzaman said potential opportunities for Takaful Ikhlas locally include bancassurance, direct marketing and database marketing.

"We have plans to expand overseas but we don't fix any time-frame.

"If the fishing ground is good over here, why go deep-sea fishing?" Syed Moheeb said at a news conference after the launch of Takaful Amani in Kuala Lumpur yesterday.

It was earlier reported that Takaful Ikhlas, a subsidiary of main board-listed MNRB Holdings Bhd, was mulling overseas expansion and was considering three countries including Indonesia.

Syed Moheeb said the plan to expand abroad is on the table but it is not in the company's business plan for this year.

Source : http://www.btimes.com.my/Current_News/BTIMES/articles/20AMANI/Article/ Aug 21, 2010