RHB Bank seals 20-year insurance and bancatakaful deals with Tokio Marine and Takaful Malaysia
Takaful Malaysia refers collectively to insurer Syarikat Takaful Malaysia Keluarga and its unit.
In Malaysia, conventional insurance and bancatakaful agreements, which provide sharia-compliant insurance options, allow insurers to sell their products through a bank's distribution network.
Under the agreements, RHB will receive up to 1.6 billion ringgit ($374.27 million) in access fees over the agreement duration for exclusively distributing conventional life insurance and takaful products through its branch network and digital channels in Malaysia.
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