Takaful Ikhlas Berhad together with Bank Rakyat introduce new protection schemes for Malaysians in line with the government’s proposal that the protection rate must be increased by 75% by 2020. The Takaful Amani Plus scheme has been introduced by the Bank Rakyat to provide customers with financial facilities in the event of a financial crisis due to death, disability and accidental loss at any time and anywhere. Death or disability due to natural conditions refers to the occurrence of an accident or illness subject to the conditions prescribed. The meaning of loss is the unintended consequence of an injury, accident or death caused by violence and so on. However, disasters must be caused by accidents and subject to conditions of exemption.


The plan is an improved product of the previous Takaful Amani plan, launched in 2010. Almost 800,000 of Bank Rakyat’s customers have participated in this protection scheme. This Takaful Amani Plus enables customers contribute as little as RM 0.25 per day or RM 90 per year and offer customers with three different comprehensive coverage plan and benefits.


Advantages of Takaful Amani Plus


  • Takaful Amani Plus offers up to RM 30,000 in the event of death or disability or natural disability and benefits up to RM 154,500 in the event of death or disability or permanent disability
  • Contribute as low as RM 0.25 per day or RM 90 per year
  • Protection is available 24 hours a day worldwide
  • Has three comprehensive protection plan options
  • Participate in all branches of Bank Rakyat
  • Updates can be made automatically if the customer is a Bank Rakyat account holder


Eligibility Requirements

  • Available for Bank Rakyat’s customers aged 6 to 59 years old
  • Malaysian citizen
  • For uniformed personnel such as Police, Army, Fireman, Immigration Officer and others / Class 4 occupations such as jobs involving heavy work, dangerous and heavy machinery or machinery, protection is effective only during off-duty hours.
  • This protection scheme does not cover acts caused by suicide, AIDS and disability / injury or illness
  • For non-Muslim participants, the benefit of the Badal Hajj will be replaced with an additional cost of Funeral Expenses in the event of death


Contribution Rate Per Year In Accordance With The Cover Plan

  1. Plan A – RM 260
  2. Plan B – RM 175
  3. Plan C – RM 90


Benefits of Takaful

The benefit of the Takaful that the customer will receive is based on the plan of protection subscribed by the participant. The benefits that’s participants will receive are as follows:


  1. Death / Permanent Disability Due to Accident

Plan A – RM 150,000

Plan B – RM 100,000

Plan C – RM 50,000


  1. Absolute and Permanent Mortality / Permanent Disability

Plan A – RM 30,000

Plan B – RM 20,000

Plan C – RM 10,000


  1. Critical Illness (benefits will be accelerated)

Plan A – RM 15,000

Plan B – RM 10,000

Plan C – RM 5,000


  1. Medical Expenses Due To Accident

Plan A – RM 3,000

Plan B – RM 2,000

Plan C – RM 1,000


  1. Accident / Natural Funeral Expenses

Plan A – RM 3,000

Plan B – RM 2,000

Plan C – RM 1,000


  1. Hajj Badal (if accidental / natural)

Plan A – RM 1,500

Plan B – RM 1,500

Plan C – RM 1,500


  1. Ambulance Fee Due To Accident

Plan A – RM 600

Plan B – RM 400

Plan C – RM 200


  1. Hospital allowance due to accident

Plan A – RM 150

Plan B – RM 100

Plan C – RM 50

* This allowance is limited to 30 days, subject to a minimum stay of 2 days *


If you want to know more about Takaful Amani Plus, please visit the nearest Bank Rakyat branch or contact the tele-Rakyat Call Center at 1-300-80-5454.


Bank Negara New Limit Loans


Recently Bank Negara Malaysia announced that the maximum limit of repayment for property would be at 35 years and personal loan would be capped at 10 years.

This move is related to recent numbers of house hold debts in Malaysia which has reached a horrifying figure. The latest move has made a significance impact in the loan industry in Malaysia.






House Hold Debts in Malaysia



Malaysians have long been using mortgages to sustain their needs. The few factors debts are common house and car purchase. While low interest and requirement has boost house purchase and push house prices beyond affordability, Malaysians are known to pay the highest prices for vehicle ownership in the world.This would be sustainable as long as interest rates remains low.




Maybank also known as Malayan Banking Berhad is a Malaysian universal bank that has other operating markets in South East Asia including Indonesia, Philippines and Singapore. It is by far the largest bank in Malaysia in terms of market capitalization. It is also one of the largest banks in South East Asia with total assets of more than USD 165 billion and making a net profit of USD 1.75 billion in 2015. The bank was also ranked 95th in The Banker’s 2015 Top 1000 World Banks as of July 2015 and it was ranked 362 in the Forbes Global 2000 Leading Companies as of June 2016. Adding to its extensive background, Maybank is also currently the largest public listed company on Bursa Malaysia with a market capitalization of USD 19.1 billion as of 31st of December 2015.

Maybank was first founded by a Malaysian business tycoon known as Khoo Teck Puat along with a few of his partners on 31st of May 1960 in Kuala Lumpur. Since its inception, Maybank has rapidly expanded from one branch into 150 branches around Malaysia within 3 years of their operations. Maybank also purchased Goodwood Park Hotel in Singapore for SGD 4.8 million in 1963 and in 1964, Maybank established its trust company known as Maybank Trustees Berhad. However, the founder Khoo Teck Puat was ousted out of the bank by the Malaysian Government under Deputy Prime Minister Tun Abdul Razak’s administration in 1965. The reason was Khoo Teck Puat was suspected to be pumping money into his own private company in Singapore. In 1973, Maybank formed its own investment banking arm known as Aseambankers Malaysia Berhad or Asian & Euro-American Merchant Banking (Malaysia) Berhad and in 1987, Maybank set up Maybank Securities Sdh Bhd to start providing stockbroking and other investment related services.

Maybank was able to expand its operations to Federal Territory of Labuan after the new Malaysian Offshore Banking Act was passed in 1990. In the same year, Maybank also formed Maybank Unit Trust Berhad to focus more on unit trusts funds management. Maybank then went on to launched Maybank General Assurance Berhad which was then relaunched as Maybank Life Assurance after the bank bought over Safety Line & General Insurance Sdn Bhd and started to provide insurance related services. The first foreign operation of Maybank outside of Malaysia and Singapore was in Papua New Guinea after the bank set up its subsidiary there in 1994 where Maybank opened 2 branches in Port Moresby and Lae respectively. In 1995, Maybank was able to further expand its operations to Indonesia after the bank entered into a joint-venture with PT Bank Nusa Nasional of Indonesia in 1995. In 1997, Maybank joined up with Philippine National Bank and acquired 60% of the stake from the previous Republic Savings Bank. This venture was then renamed as Maybank Philippines and nearly 60 Maybank branches were set up across different cities in Philippines. As a result of its efforts in expansion and the merger with Pacific Bank and PhileoAllied Bank, Maybank was ranked as one of the top 120 banks in the world for the very first time in 2000. Maybank also opened a branch in the city of Shanghai after the bank managed to gain a license to operate in China and applied for a license to begin their operations in Bahrain in 2001. In 2002, Maybank Takaful Bhd was set up to promote Takaful insurance products.

Maybank tried to strengthen its presence in Indonesia by attempting to take over Bank Permata of Indonesia but the bid failed. In 2005, Maybank again attempted to take over BinaFikir Sdn Bhd but the deal fell through at the end of 2005 despite receiving the approval to launch a takeover bid. Maybank also acquired MNI Insurance and Takaful Nasional through Maybank Fortis. Both of these companies were then rebranded to Etiqa Insurance and Etiqa Takaful. After that, Maybank Takaful Bhd transferred all its assets, liabilities and businesses to Etiqa Takaful. In 2011, Maybank was completely acquired by Kim Eng Holdings Limited for a total sum of SGD 1.8 billion. Under this deal, Maybank will acquire 44.6% stake in Kim Eng Holdings at SGD 3.10 per share. Subsequently, the bank replaced the representative office with a proper branch in Beijing and opened a branch in Yangon, Myanmar. In 2015, Maybank exited Papua New Guinea’s market in 2015 after Maybank Papua New Guinea and Maybank Property Papua New Guinea was sold to Kina Ventures Ltd for a sum of RM546.8 million as reported by The Star Newspaper.

Today, Maybank has an international banking network comprising of over 2,400 branches and offices in 20 different countries with banking presence in every single South East Asian country. The bank employs a total of 45,000 employees worldwide and it also has branches in major global financial centres like London, New York, Bahrain and Hong Kong. In Malaysia, there is a network of 393 branch offices with more 2,500 automated teller machines (ATMs) nationwide. The key people involved in Maybank are Datuk Abdul Farid Alias as the President and CEO, Tan Sri Dato’ Megat Zaharuddin Megat Mohd Nor as the Chairman and Dato’ Mohamed Rafique Merican as the Group’s Chief Financial Officer. Maybank’s current headquarters is located at Menara Maybank in Kuala Lumpur.