Takaful Ikhlas announces Hibah payment

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KUALA LUMPUR (June 30): Takaful Ikhlas Bhd will make a Hibah payment to eligible participants, should there be no claims filed within the coverage term for general takaful products. President and CEO Ab Latiff Abu Bakar said the distribution of Hibah is made based on consistent profit of the Takaful funds as a result of efficient underwriting, claims and asset management practice.The distribution of Hibah is permissible according to Shariah law based on agreed terms and conditions and its distribution amount is totally subject to the Takaful funds surplus rate," he said in a statement. He noted that the Hibah payment is one proof that Takaful Ikhlas has been efficiently managing the certificate holders' funds and in return, as an incentive, eligible certificate holders may make the Hibah claim immediately. Participants are also able to receive the Hibah distribution more conveniently through e-payment.