Bank Negara Malaysia has issued a policy document on Bancassurance / Bancatakaful.

The policy document sets out the policy requirements and guidance for bancassurance / bancatakaful arrangements, which aim to enhance the bancassurance / bancatakaful as an effective channel and further strengthen safeguards in place to ensure the delivery of better consumer outcomes. The requirements are now extended to bancassurance / bancatakaful partners, where relevant.

This policy’s requirements will also apply to existing and new bancassurance / bancatakaful arrangements, including renewal of bancassurance / bancatakaful agreements unless otherwise specified.

Documents:

• Policy Document on Bancassurance/Bancatakaful
• Public Feedback Statement – Summary of key feedback received on the Exposure Draft and BNM’s responses

Issuing Department
Jabatan Konsumer dan Amalan Pasaran