To date, the take-up rate was only 7.7% compared to 40% for conventional life insurance products, he said.

This, Salihuddin said, could be due to the misperception that takaful products were only for Muslims only, Bernama reports.

‘Takaful is not a product for Muslims only and since we started business more than two years ago, we have adopted takaful for all concepts,” he told reporters after launching the PruBSN Johor Bahru business center here yesterday.

However, PruBSN, a joint venture between Prudential Plc and Bank Simpanan Nasional, did not see the misperception as a setback but an opportunity to explore, he said.

With more than half of its 10,000 agents being non-Muslims, Salihuddin was optimistic that PruBSN could grow further and capture a bigger share of the non-Muslim market.