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View all search resultsMuamalat, Manulife agree on 'Bancassurance' partnership
Sharia lender Bank Muamalat Indonesia and Manulife Indonesia have agreed on a long-term bancassurance partnership by launching a joint product called Zafirah
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haria lender Bank Muamalat Indonesia and Manulife Indonesia have agreed on a long-term bancassurance partnership by launching a joint product called Zafirah.
Bank Muamalat president director Endy Abdurrahman said that through the product the bank's customers would have access to a series of insurance options from Manulife through Bank Muamalat's retail networks across Indonesia and from other distribution lines, such as telemarketing.
'As the first sharia-based bank in Indonesia, we are committed to providing our customers finance services that not only follow sharia principles but also could be accessed by all Indonesian people across the country,' Endy said as quoted by Antara in a statement in Jakarta on Sunday.
'Rest assured that this partnership will open bigger business opportunities for Bank Muamalat,' he added.
In the first stage, Bank Muamalat's customers would get access to sharia insurance products, which comprise life coverage and investment elements in the form of a unit link insurance.
Endy said the strategic partnership was built on the solid presence of Manulife and Bank Muamalat in Indonesia.
'The partnership will deepen the relation between Bank Muamalat and its customers and expand the bank's capacity to give them protection,' said Endy. (ebf)
