Kuala lumpur: Bank Muamalat Malaysia Bhd, in a strategic collaboration with Syarikat Takaful Malaysia Am Bhd (Takaful Malaysia Am), have introduced Malaysia’s first Cyber Takaful Protection available from as low as RM14.80 per year. The protection is offered as an affordable option for all banking customers to better navigate the growing challenges of digital security.
According to BERNAMA News Agency, this high-impact initiative reflects the shared commitment of both institutions to strengthen digital customer security and expand protection against increasingly challenging cyber threats. Eligible and consenting customers will receive 12 months of cyber protection, which includes safeguards often excluded from traditional plans, such as counterfeit products, confidence scams, and unauthorized electronic fund transfers. In addition, the protection is also offered automatically to eligible new MSalary+ customers as part of the retail product onboarding process.
As part of this strategic collaboration, Takaful Malaysia Am has been appointed to manage the cyber protection plan under the bancatakaful partnership with Bank Muamalat. Available across all Bank Muamalat branches, this initiative forms part of the bank’s wider mission to champion safe, secure, and inclusive digital banking experiences.
Bank Muamalat president and chief executive officer Khairul Kamarudin stated that the initiative is part of the bank’s dedication to ensuring that its customers feel safe and confident every time they transact online. By integrating cyber protection into their offerings, they aim to shield customers from threats while strengthening trust and resilience in the banking landscape.
Takaful Malaysia group chief executive officer Nor Azman Zainal mentioned that the initiative reinforces its leadership in driving innovation and trust across Malaysia’s digital financial ecosystem. The unveiling of this first-of-its-kind shariah-compliant protection plan in Malaysia marks a significant milestone in their strategic bancatakaful partnership with Bank Muamalat, reflecting their shared commitment to strengthening digital resilience and addressing the evolving landscape of cyber threats.
This initiative directly supports national aspirations under the Malaysia Cyber Security Strategy 2020-2024 and Bank Negara Malaysia’s digital risk management agenda. It also complements the government’s broader push toward inclusive, secure, and technology-driven financial services. By becoming the first Islamic bank in the country to offer such protection, Bank Muamalat reaffirms its role as a digital banking innovator and a trusted financial partner.
The Cyber Theft Protection Coverage will be available from August 2025 at all Bank Muamalat branches nationwide.