Page 65 - Bank-Muamalat_Annual-Report-2023

ANNUAL REPORT 2023
OUR BUSINESS PERFORMANCE

In April 2023, the Bank formed a strategic business relationship with Syarikat Takaful
Islamic Financial
Planning Stage Malaysia Berhad to provide Family and General Takaful. Notwithstanding the new
partnership and competitive market scenario, overall performance for FY2023
Wealth Protection showed a marked improvement with Family Takaful recording sales of RM4.5 million
representing a growth of 73% over the previous year while General Takaful registered
Protecting your assets
exceptional growth in sales to RM9.8 million, representing a 123% increase over
and loved ones from
the past year.
unexpected crisis
Family & General Total Assets
Islamic Wealth (RM Million)
Management Products 14.45
4.42 2.64 7.06 9.87 4.58
• FAMILY TAKAFUL:
M-Zahra Income/M-Zahra
Income Plus/M-Zahra
Flexi/M-Zahra Invest
Prime

• GENERAL TAKAFUL:
M-Zahra Motor/M-Zahra
Home Protect/M-Zahra
PA Care 2022 2023
g General g Family g Total

Daily Banking Products Daily Banking Sales
Islamic Financial (RM Million)
Planning Stage Islamic Estate Planning, a key product solution within
Wealth Distribution the Daily Banking domain, had been a key focus 1.35 1.89
FY2023 and registered admirable growth as a result
Distribute assets to heirs, of strategic promotions and execution. Monthly sales
beneficiaries and/or waqaf recorded substantial increase, averaging 221 cases
for your peace of mind which represent a 195% increase over the previous
year’s average figure of 75 cases per month. This
Islamic Wealth success stemmed from effective cross-selling of estate
Management Products
planning products by branch personnel and translated
to a commendable 40% increase in sales from the
• ISLAMIC ESTATE
previous year, rising from RM1.3 million in FY2022 to
PLANNING: Trust
RM1.8 million in FY2023.
Deed, Islamic Estate
Administration Planning, 2022 2023
Wasiat, Hibah, Hibah
Amanah, Declaration of
Jointly Acquired Assets

• WASIAT: Basic and
Comprehensive

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