In line with the objective of Malaysian Takaful Association (MTA) to promote self-regulations for common interest among members, RRTI is established to ensure standard and adequate requirements for the registration of Takaful Intermediaries especially for the Takaful advisory product. Takaful advisory product is defined as a product that needs face-to-face consultation before any Takaful proposal could be made. At the end of the consultation and promoting process to the prospective, Takaful participant are required to complete Customer Fact Finding (CFF) Form as required by Bank Negara Malaysia (BNM).
With RRTI, MTA is aiming to record a complete and current data of all registered Takaful Intermediaries. The data include data of the directors and shareholders of any of the appointed corporate bodies, and its corporate nominees. Furthermore, MTA is able to enforce the industrywide requirement for these Takaful Intermediaries particularly in terms of the number of Takaful Operators that the Takaful Intermediaries can represent.
Consequently, with the complete and updated data, MTA is able to provide services to the consumers by allowing them to authenticate the status of these registered Takaful Intermediaries via MTA’s online intermediaries public enquiry. This public enquiry facility is part of the initiatives undertaken by MTA to protect consumers by empowering them to check the
registration status of the Takaful Intermediaries, and also to nurture the Takaful industry with accountability, integrity and competency.
These rules under these Guidelines must be read together with other MTA’s Guidelines and BNM Guidelines, but are not limited to:
- MTA’s Guidelines on Continuous Professional Development (CPD) Hours
- MTA’s Minimum Qualitative Criteria (MQC) for Family Takaful Agency Force
- MTA’s Code of Ethics
- Shariah guidelines and principles
- Anti-Money Laundering Act
- Anti-bribery and anti-corruption laws and regulations
- Guidelines issued by BNM from time to time
The objectives of RRTI are:
- (a) to provide a framework of transparent, consistent and facilitative rules to govern and regulate the appointment of Takaful Intermediaries; and
- (b) to have a standard guidelines on registration of Takaful Intermediaries.
Please download full guidelines here : Rules on Registration of Takaful Intermediaries