Association of Islamic Banking Institutions Malaysia

KUALA LUMPUR, Former Malaysian Prime Minister Dr Mahathir Mohamad was conferred "Tokoh Takaful Award" (Takaful Award Prominent Person) at the Malaysian Takaful Association inaugural Dinner and Awards Nite 2009 in recognition of his outstanding contribution to the takaful industry. Dr Mahathir has been instrumental in ensuring the takaful industry received strong support from the government and this support has remained to this day.

" We owe much to (Tun) Mahathir as in October 1982, barely a year after coming into office as the fourth Prime Minister, a special task force was formed to explore the viability of an islamic insurance company in Malaysia," said Second Finance Minister Ahmad Husni Hanadzlah when speaking at the event.

Dr Mahathir had passed on a legacy to the Malaysian Islamic financial industry, said Malaysian Takaful Association Chairman Syed Moheed Syed Kamarulzaman.

He said Dr Mahathir was also a multi-skilled individual and a strategist in his own sense, making him the perfect candidate to receive the award.

Syed Moheed said takaful operators have an important role to promote innovation, equipping their business strategies with research and development and design new innovative products and services.

"Innovation is the key to increase progression and sustaining growth in the industry," he said.

The takaful industry witnessed positive response and confidence based on growth in the last decade as Malaysians from all walks of life, religions and races are receptive towards takaful, he added. (BERNAMA) 

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