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Business : Takaful Ikhlas Announces Hibah Payment

KUALA LUMPUR, June 30 (Bernama) — 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 Chief Executive Officer 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 no…
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