Kuala Lumpur, 23 May 2022 – FWD Takaful Berhad (“FWD Takaful”) announced today the launch of several Value-Based Intermediation for Takaful (VBIT) initiatives as part of its commitment to support and embrace the VBIT framework.
As part of the launch, FWD Takaful has partnered with the Malaysian Takaful Association (MTA) to contribute a total of RM1 million to the MTA Fund4Cause programme. The programme looks to assist in achieving the goals of the Strategic Plan 22-23 (ISLAH 23), VBIT roadmap, and the Financial Sector Blueprint 2026 (FSB 2026). FWD Takaful’s contribution intends to support the VBIT Development Fund initiatives.
FWD Takaful aims to become a champion in the industry for VBIT, to support its sustainable development and to educate the public about takaful. The VBIT initiatives are part of the FWD Group’s Environmental, Social and Governance (ESG) strategy. It is also aligned with the United Nations Sustainable Development Goals. With our ESG strategy, we want to play our part in bringing about a better and more sustainable future.
FWD Takaful has implemented a few VBIT initiatives, including partnering with Arus Academy to organise financial literacy programmes via ‘Fun(d) for Life’ and designing financial educational game called ‘Komuniti Kita’. Other examples of our VBIT initiatives are the introduction of inclusive products for the lower income community through FWD Kasih and for the disabled community through FWD SpecialCare and FWD SpecialMed.
FWD Takaful has also launched the VBIT microsite, a brand-new educational microsite aimed at educating customers and the public about VBIT and FWD Takaful’s commitment to the local communities. On the VBIT microsite, visitors will be able to:
• Learn about FWD Takaful’s overall mission and commitment
• Discover the guidelines of the VBIT’s strategies
• Read their Corporate Value Intent (CVI)
• Find out more on the VBIT initiatives carried out by FWD Takaful
Wan Ahmad Najib bin Wan Ahmad Lotfi, FWD Takaful’s Chief of Strategy and Digital Distribution, said, “Embracing VBIT and translating it into actionable initiatives guided by the four pillars of our CVI allows us to deliver meaningful takaful products and services to all Malaysians – regardless of who they are.”
In delivering these VBIT aspirations, FWD Takaful has translated these initiatives to align with their CVI that focuses on four pillars, listed below:
- Inclusive Protection - committed to allowing all walks of life receive takaful protection according to their needs and affordability, as well as striving to be proactive in product design and distribution approach, literacy efforts and processes to ensure families can be financially resilient.
- Sustainable Growth - pledges to pursue sustainable growth by adopting innovative and responsible growth strategies while observing Islamic principles. FWD Takaful’s initiatives, selection of partners and business conduct aim to deliver long term positive impact to empower the community.
- Ethical Practices - commits to upholding principles of Islamic values to do the right things right while respecting formal laws and striving for good self-governance by treating each other with fairness, integrity, and respect.
- Talent Development - devoted to supporting talents in achieving their potential and their contribution to society through best conduct by implementing a culture that is founded on genuine care for employees' wellbeing and goals matched with proper recognition, reward system and comprehensive training.
For more information on FWD Takaful’s VBIT initiatives, values, and overall mission, please visit the new VBIT microsite at fwd.com.my/latest/vbit. Alternatively, call 1300 13 7988 or email email@example.com for more information.