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MAA Takaful Distributes Profit Commission To General Takaful Agents

KUALA LUMPUR, March 8 (Bernama) -- MAA Takaful Bhd (MAA Takaful) became the first takaful operator in Malaysia to declare and pay profit commission to its qualifying general takaful agents.

Its Chief Executive Officer Salim Majid Zain said in a statement: "MAA Takaful, will endeavour to ensure that this encouraging incentive is distributed annually.

"MAA Takaful as a takaful operator, also strives to ensure equal treatment to all stakeholders in sharing the profits of the company as a whole, reflecting the Shariah principles of equitability and mutuality."

MAA Takaful has grown its general takaful business since 2008, with its agency channel contributing a major share.

The management believes the payment of profit commission marks a significant milestone as this will encourage agents to bring in more quality business, which in turn, translates into higher profitability, while ensuring business sustainability.



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Source: Bank Negara Malaysia

Starting April the banks have imposed a 50 sen processing fee on top of the 15 sen stamp duty on each cheque. The fee also applies to those applying for a Bankerís Cheque, Bank Draft and Cashierís Order. Do you think this additional charge is justified?

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