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Maybank Launches RM200M Investment-linked Plan

24 July 2008

5 min read

Maybank Launches RM200 million Short Term Single Premium Islamic Investment-linked Plan


Maybank today launched the shortest term single premium investment-linked Islamic commodities fund. Takaful Al-Waqi, a RM200 million single premium Islamic investment-linked plan is designed specifically based on customers’ feedback for a short tenure investment of two years coupled with potential upside of 8.81% pa to outperform the 12-month General Investment Account (GPA) or fixed deposit account rates, in line with its aspirations to offer suitable investment products for the ever-changing appetite of customers looking for diversification.


Takaful Al-Waqi is an innovative investment strategy that places at least 90% of single contribution into Shariah compliant fixed income investments to safeguard the investment upon maturity.


The remainder of the investment will then be invested into Shariah compliant investment instruments that are referenced to the performance of an optimized commodity index for potential upside returns.


The competitive advantages of Takaful Al-Waqi, lies with its insurance element tied to the fund which is specially-tailored to suit wider segments of market with affordable minimum investment of RM20,000.


Speaking at the launch, Amirudin Abd Halim, Deputy Chief Executive Officer, Etiqa Takaful Berhad said today the launch of Takaful Al-Waqi underscores its effort to humanise the insurance and takaful businesses. “Our focus on Etiqa is on simplicity for the convenience of our customers. In essence, we believe in comprehensive products that provide clear and simple insurance protection and savings, all in one product”.


“The Etiqa brand has lived up to this promise thus far and is fast gaining recognition as industry leader. Our latest award won is the recent Best Takaful Marketing award at the International Takaful Summit 2008 in London, clearly reflecting our growing strengths as a leading insurance and takaful brand,” he added.


Takaful Al-Waqi is open to customers aged between 18 and 70 years with a minimum single contribution of RM20,000. Customers are also provided with takaful coverage.


To date, Maybank has launched 14 conventional funds and 4 takaful funds, totalling RM2.9 billion and RM293 million respectively.


“Our conventional single premium structured investment-linked funds continue to generate steady returns. As at end June 2008, annualised returns were about 5.6%,” said Ibrahim Muhammad, Head of Maybank Bancassurance.


The first conventional single premium structuredinvestment-linked fund has over its five-year tenure, delivered a total investment return of more than 23% or 4.7% per annum, well above the minimum guaranteed return per annum of 3%.


“As the pioneer and market leader in bancassurance business in Malaysia, Maybank’s Bankassurance model has evolved over the years where we have emplaced state of art infrastructure to facilitate customer relationship management and sales management. These infrastructure include Maybank’s wide network, robust technology and skilled sales force including sophisticated points of sales that allow us to understand customer financial needs effectively by reviewing customer financial profiling, risk appetite analysis before comprehensive financial solutions are presented to customers. This enables us to reach out to customers in the most efficient manner,” he said.


“We have also in place a state of the art data warehouse application which assists us to better understand customer financial needs based on life cycle marketing,” he added.


Ibrahim also said that as the largest bankassurance provider in Malaysia, customers receive financial planning advice at more than 370 branches nationwide. We have also provided convenient access to purchase products, including insurance, at more than 2,700 Maybank ATMs, our Customer Care Centre or via our anytime, anywhere portal, the most widely accessed internet banking portal in the country.


For more details on the Takaful Al-Waqi, customers can contact Maybank Service Centres and Private Banking Centres nationwide or click on to