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 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. 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 mission to champion safe, secure, and inclusive digital banking experiences.
Bank Muamalat president and chief executive officer Khairul Kamarudin emphasized the bank’s dedication to ensuring that its customers feel safe and confident every time they transact online. ‘By integrating cyber protection into our offerings, we are not only shielding customers from threats but also strengthening trust and resilience in today’s banking landscape,’ he stated.
Takaful Malaysia group chief executive officer Nor Azman Zainal added 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 our strategic bancatakaful partnership with Bank Muamalat,’ he commented.
This initiative supports national aspirations under the Malaysia Cyber Security Strategy 2020-2024 and complements Bank Negara Malaysia’s digital risk management agenda. 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.