Maybank’s insurance arm, Etiqa Insurance Singapore, jointly announced the launch of Invest future, Singapore’s first Takaful offering in over a decade.
Maybank Singapore (Maybank) is the exclusive distributor for this new Shariah-compliant investment-linked product (ILP) in the Singapore market that addresses the needs of customers looking for values-based insurance solutions; further strengthening Maybank Group’s Islamic Wealth Management offerings, according to a media release on Monday.
«Values-based financial solutions such as Etiqa’s Takaful ILP, is an integral component of Islamic Wealth Management (IWM) offerings based on Shariah principles. Maybank, as the regional offshore IWM hub for Maybank Group in Singapore, is the first Bank here to provide end-to-end values-based financial solutions,» Alvin Lee, Maybank Singapore Country CEO, said.
Concept of Mutual Help
«As the exclusive distributor of Etiqa’s Takaful offering – a first in Singapore, we are very pleased to mark another milestone in scaling our capabilities with a comprehensive suite of solutions aligned to the five IWM pillars for customers through their different life stages,» he added.
Takaful is based on Shariah or Islamic religious law where protection is offered on the Islamic concept of mutual help.
Growing Demand
Invest future cater to the growing demand for Islamic financial solutions in Singapore. This investment-linked plan is designed to support sustainable wealth accumulation goals through Shariah-compliant investing, tailored for the growing demographic seeking ethical investment options while offering flexibility and protection.
