KUALA LUMPUR, May 9 – Malaysia’s largest cooperative bank, Bank Rakyat, aims to increase its customer base by 30 per cent this year via its partnership with Takaful Ikhlas Bhd. The bank has currently about six million customers. Chairman Tan Sri Abdul Aziz Zainal said under the cooperation, Bank Rakyat would promote Takaful Ikhlas products and in return, the takaful operator is marketing the bank’s financial products.
“We believe the cooperation with Takaful Ikhlas will help expand our customer base, especially among private sector employees, who are one of our targets for business growth. Meanwhile, the collaboration also enables the bank to diversify its offerings to customers, including for takaful needs,” he told reporters after the signing ceremony for the collaboration memorandum here today.
In conjunction with the collaboration, Abdul Aziz said Bank Rakyat is introducing the “Buy A House And Get A Car Campaign”, as well as various attractive prizes worth RM200,000. Meanwhile, Takaful Ikhlas President/Chief Executive Officer Datuk Ab Latiff Abu Bakar said the partnership with Bank Rakyat, its maiden bancassurance tie-up, is expected to drive customer base growth by between 15 and 20 per cent yearly. To date, Takaful Ikhlas has two million policyholders.