Takaful operators must work together: Hong Leong

There will always be a need for takaful, however, takaful operators must work together to aggressively promote the product to the public, said Hong Leong MSIG Takaful Bhd. Chief Executive Officer Wan Mohd Fadzullah Wan Abdullah said it was imperative to educate the public that takaful was an all-weather financial planning tool. While the growth of takaful has been at a faster rate compared to conventional insurance, Wan Mohd Fadzullah said the volume was still low. Sri Lanka-based Amana Takaful Life Chief Executive Officer, Reyaz Jeffrey said one effective way of promoting takaful awareness, was through agency channels.