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November 2008 RHB Islamic Bank Offers Innovative Islamic Unit Trust Funds and Takaful Products Through a Strategic Partnership with Three Fund Management Companies and Two Takaful Companies Kuala Lumpur, 5 November 2008:RHB Islamic Bank Bhd (“RHB Islamic”), the Islamic banking entity of the RHB Banking Group signed an agreement today with three fund management companies and two takaful companies to form a strategic and formidable partnership to market the Islamic Unit Trust Funds and Takaful Products. From left: Teng Chee Wai, CEO of HwangDBS Investment Management Berhad, Tuan Haji Syed Moheeb Syed Kamarulzaman, President / CEO of Takaful Ikhlas Sendirian Berhad, Jamelah Jamaluddin, Managing Director of RHB Islamic Bank Berhad, Datuk Haji Faisal Siraj, Chairman of RHB Islamic Bank Berhad, Sharifatul Hanizah Said Ali, Managing Director of RHB Investment Management Sendirian Berhad, Datin Maznah binti Mahbob, CEO of AmInvestment Services Berhad, and Salim Majid Zain, CEO of MAA Takaful Berhad, at the signing ceremony. The fund management and takaful companies which will benefit from this strategic partnership are AmInvestment Services Berhad, HwangDBS Investment Management Berhad, RHB Investment Management Sdn Bhd, Takaful Ikhlas Sdn Bhd and MAA Takaful Berhad. Signing on behalf of RHB Islamic Bank was its Managing Director, Jamelah Jamaluddin, while the fund management and takaful companies were represented by Datin Maznah Binti Mahbob for AmInvestment Services Bhd, Teng Chee Wai for HwangDBS Investment Management Berhad, Sharifatul Hanizah Said Ali for RHB Investment Management Sdn Bhd, while Takaful Ikhlas Sdn Bhd and MAA Takaful Berhad were represented by Tuan Haji Syed Moheeb Syed Kamarulzaman and Salim Majid Zain respectively. With this signing, RHB Islamic Bank will play the pivotal roles in pushing, re-packaging and marketing unit trust funds and takaful products. The existing products under Wealth Management which are actively marketed by RHB Islamic Bank are General Takaful and Islamic Estate Planning. Unit Trust is a collective investment scheme that allows investors with similar investment objectives to pool their funds to be invested in a single portfolio of securities managed by professional fund managers, while Takaful is an Islamic insurance concept which is grounded in Islamic Muamalat (banking transactions), observing the rules and regulations of Islamic law. The Chairman of RHB Islamic, Datuk Haji Faisal Siraj expressed his confidence that as a result of this strategic partnership, all parties concerned will experience a win-win situation whereby RHB Islamic will be able to capitalize on the partners’ experiences while the fund management and takaful companies can expect an extensive marketing initiatives from RHB Islamic through its dedicated and experience marketing teams. “The demands and potential market for Islamic wealth management products within the fund management and takaful sector have experienced an upward trend globally, and this positive business climate keeps growing. We are pleased to note that these strong and positive demands are not only generated from the Muslim customers, but also from our non-Muslim investors. The special features of our Islamic Banking products, which are strictly based on Shariah principles, are an alternative for the conventional banking products. For our non-Muslim customers, these Shariah-compliant funds offer an investment diversification. This is the main factor for the growth of Islamic Wealth Management products in Malaysia,” Datuk Haji Faisal added. Wealth Management is a type of financial planning that provides high-net-worth individuals and families with private banking, estate planning, legal resources and investment management with the goal of sustaining and growing long-term wealth. Several interrelated factors such as adequately developed capital market, strong intermediaries and a fast expanding range of conventional and alternative investments contributed to its strong growth. “As a distributor and agent for these five companies, RHB Islamic ensures that customers will find the suitable investment portfolio that fits their profile while at the same time enjoying takaful protection. With a wide experience possessed by these fund management and takaful companies, combined with the rapidly growing Wealth Management advisory capabilities, proliferation of service providers and strong demand drivers for these services, we believe that Wealth Management products hold a bright future in the market,” Puan Jamelah Jamaluddin, Managing Director of RHB Islamic Bank said. Puan Jamelah is also confident that with a concerted effort from all parties in the industry, RHB Islamic could achieve its intended target of RM7.3 million in sales volume. The Wealth Management products will be made available through all RHB Islamic Bank branches as well as RHB Islamic’s Wealth Management Consultants nationwide. Issued by Group Corporate Communications Division, RHB Capital Berhad for RHB Islamic Bank Berhad. For further information, please contact Eza Dzul Karnain at 012-3420060 or Sandra Foo at 012-3188412  |
