IslamicFinance.de

Al Rajhi Banking & Investment Corp (Malaysia) Bhd, which has launched its first bancatakaful product offerings in collaboration with Great Eastern Takaful Bhd, is confident that takaful products will contribute 20% to its fee-based income for 2015 or RM15 million worth of contributions. Al Rajhi Bank Malaysia acting CEO Selamat Sirat said the collaboration marks the introduction of its first syariah compliant protection plan products, which are i-Great Raudhah and i-Great Bakti. Selamat added that it is looking at a 50% growth year-on-year for its fee-based income. It is also looking for the opportunity to expand the fee-based income business through its range of wealth management products.