CIMB Islamic is Asia-Pacific’s best bancatakaful provider, distinguished by a deeply embedded and highly scalable Shariah-compliant protection platform that sits at the heart of its client offering. By uniting innovative product structures with powerful distribution and a well-executed partnership model, the bank has elevated bancatakaful into a central pillar of its broader financial proposition.
CIMB Islamic’s success is anchored in its exclusive partnership with Sun Life Malaysia, through which it delivers a broad and cohesive suite of Shariah-compliant protection solutions across its retail and wealth franchise. This has enabled the bank to move beyond standalone product distribution towards a fully integrated model, where takaful is embedded within financial planning and supports clients across protection, savings, retirement and legacy needs.
Product innovation has been a key driver of this success. The launch of Sun Enrich Extra-i exemplifies CIMB Islamic’s approach, offering a universal family takaful solution that combines protection, disciplined savings and long-term wealth accumulation within a single structure. With flexible contribution terms, annual cash payouts and a maturity value linked to accumulated account performance, the product addresses growing demand for solutions that balance affordability, liquidity and long-term financial resilience. By incorporating hibah takaful features, it also enables efficient wealth transfer aligned with Islamic inheritance principles, positioning takaful as a structural tool for both protection and intergenerational planning.
This award reflects our commitment to delivering innovative, customer-centric solutions that make protection more accessible, relevant and impactful
Haniz Nazlan
The bank has complemented its leading product proposition by expanding accessibility. Leveraging its nationwide retail network and wealth management channels, CIMB Islamic has driven penetration across mass and affluent segments, supported by simplified onboarding and minimal underwriting requirements. At the same time, it has demonstrated innovation in embedding takaful directly into financing solutions. Its first-in-market bancatakaful financing structure for auto customers integrates protection into hire purchase facilities, allowing customers to access comprehensive coverage through a single, streamlined arrangement while reducing upfront costs. This approach has delivered strong early traction, reflecting the appeal of integrated and convenient financial solutions.
Digital enablement and operational efficiency further support the platform. Process automation and system integration enhance turnaround times and accuracy in policy issuance and financing disbursement, while built-in controls ensure robust Shariah compliance and risk management. These capabilities have not only improved the client experience but also strengthened the bank’s ability to scale its bancatakaful offering efficiently across its franchise.
Haniz Nazlan, CEO of Group Consumer Banking, CIMB, says: “This award reflects our commitment to delivering innovative, customer-centric solutions that make protection more accessible, relevant and impactful. A key contributor to this recognition is Sun Enrich Extra-i, which redefines accessibility in family takaful through guaranteed acceptance of up to MYR500,000 without medical underwriting, flexible contribution terms, annual cash bonuses and enhanced protection benefits. Complementing this is our pioneering all-in-one Banca protection for auto financing solution, the first of its kind in Malaysia, which enables customers to obtain comprehensive protection through a single application while helping to address potential financing shortfalls arising from vehicle loss or damage.
“We thank Euromoney for this esteemed recognition, and extend our sincere appreciation to our customers, partners and employees, whose trust and support continue to inspire us to innovate and create meaningful value.”
CIMB Islamic’s bancatakaful business is underpinned by a strong advisory-led approach, with relationship managers and front-line teams playing a central role in positioning protection solutions within broader financial planning conversations. This has reinforced customer engagement and retention, while enabling the bank to deliver more holistic outcomes for clients.
Cumulatively, these elements create a differentiated bancatakaful franchise that combines product innovation, distribution strength and operational discipline. By embedding Shariah-compliant protection seamlessly within its broader banking and wealth ecosystem, CIMB Islamic has established a client-focused model that now sets the standard for bancatakaful in Asia-Pacific.
