MTA Subcommittees

From developing new strategies to fostering growth, our subcommittee plays a vital role in the advancement of our organization. Together, we strive to make a meaningful impact in our industry and community.

Roles and Responsibilities of the Subcommittees

To review, develop and recommend to the MC as well as adapt when necessary, on the development of accounting, tax and investment that affecting the Takaful industry;
To contribute to the development of accounting and financial reporting for Takaful industry bu close working relationship accounting bodies.
To communicate on a regular basis with members on issues and developments affecting Takaful practice in terms of accounting, tax and investment.
To initiate educational programs for consumers and partners to create and improve awareness in relation to Family takaful operations and services.
To communicate with the relevant regulators (i.e. Bank Negara Malaysia) and others industry (i.e. Life Insurance Association of Malaysia (LIAM) and obtain feedback on the issues.
To provide advice, expertise and represent MTA in any joint committees with LIAM and/or PIAM. and other related Committees.

To review, develop and recommend to the MC as well ad adapt when necessary, on the development of industry initiatives related to Technical/Operations/Technology for the strengthen of Takaful Operators operations;
To initiate and undertake research and development for the Takaful industry by way of reviewing new and existing regulations issues by Government Agencies, Bank Negara Malaysia (BNM), Perbadanan Insurans Deposit Malaysia (PIDM) etc.;
To initiate educational programs for consumers and partners to create and improve awareness in relation to Family takaful operations and services;
To communicate and represent the industry in any engagement with Bank Negara Malaysia and others industry associates (i.e. Life Insurance Association of Malaysia(LIAM)) and obtain feedback on the issues;

To review, develop and recommend to the MC as well ad adapt when necessary, on the development of industry initiatives related to Technical/Operations/Technology for the strengthen of Takaful Operators operations;
To initiate and undertake research and development for the Takaful industry by way of reviewing new and existing regulations issues by Government Agencies, Bank Negara Malaysia (BNM), Perbadanan Insurans Deposit Malaysia (PIDM) etc.;
To initiate educational programs for consumers and partners to create and improve awareness in relation to Family takaful operations and services;
To communicate and represent the industry in any engagement with Bank Negara Malaysia and others industry associates (i.e. Persatuan Insurans Am Malaysia (PIAM)) and obtain feedback on the issues;

To develop and formulate strategy to increase retention of Retakaful contribution within the local economy.
To review and recommend to the MC on Retakaful related matters of the Association and on issues in the Takaful industry.
To synergize Retakaful business strategy with Takaful operators to enhance industry capacity, technical capability and elevate industry competitiveness.

To initiate and carry out research and development for the industry in creating wider range of innovative distribution channel plans and recommend to the MC on industry new initiatives.
To create cohesiveness and synergies of environment between TOs by increasing the market share of Takaful by distribution of a product thruogh all available channels.
To advice and develop the necessary rules and regulations for the intermediaries;
To advice and develop the relevant related training and development for industry;
To escalate matters and recommendations from the subcommittee to the Management Committee (MC) for approval and advice.

To initiate and carry out research and development for the industry in creating wider range of innovative distribution channel plans and recommend to the MC on industry new initiatives.
To create cohesiveness and synergies of environment between TOs by increasing the market share of Takaful by distribution of a product through all available channels.
To advice and develop the necessary rules and regulations for the intermediaries;
To advice and develop the relevant related intermediaries training and development for industry;
To escalate matters and recommendations from the subcommittee to the Management Committee (MC) for approval and advice.

To ensure effective deliberations and recommendations to the MC on new issuance and existing regulatory requirements and guidelines on the implications which may arise when changes in these regulatory requirements;
To formulate, coordinate and conduct discussions and briefing sessions to member companies to ensure that Shariah and compliance requirements are properly understood and adequately implemented;
To deliberate regulatory views on related issues in other MTA subcommittee/working committee if necessary;
To deliberate on related common industry issues that may have significant impact to the operation of the industry;
To provide advice and views on the changes of all MTA guidelines/contracts/documents/agreement legal such as Inter Takaful Agreement (ITA) etc;

To act as a high level oversight committee and communications platform for MTA and recommended the appropriate solution to the Management Committee (MC)
To plan and strategies public relation activities for MTA
To organize public relation functions for MTA
To handle public relations and media relations regarding industry issues
To formulate and coordinating activities, seminars and program for industry development

To provide advice and expertise in business and operation of General Takaful and relevant issues in the industry and at the same time to recommend solutions to the Management Committee (MC)
Recommend to the Management Committee on industry initiatives for the strengthening of Takaful operators operations
Formulate general methodologies and approaches for industry adoption
Initiate and carry out research for the industry in creating wider range of innovative Family and General Takaful Plans and business environment;
Initiate and undertake research and development for the Takaful industry by way of reviewing new and existing regulation issues by government agencies. Bank Negara Malaysia (BNM) etc.
Communicate with relevant regulators and other industries (i.e. Life Insurance Association of Malaysia (LIAM) and Persatuan Insurans Am Malaysia (PIAM) and obtain feedback on the issues.
Look into the internal and external factors that influence claims cost and servicing. This includes identifying the drivers for the raising claims cost and the root cause for any servicing issues. To includes but not limited to product design and development, underwriting practices, claims practices, trends in hospitals and doctors. Customer Behaviors, Agency Force and Regulators, Ministry of Health, Association of Private Hospitals of Malaysia etc.
Provide advice, expertise and represent MTA in any joint committees with LIAM and/or PIAM and other related committees.
Initiate educational programs for consumers and partners to create and improve awareness in relation to Takaful claims and services.

To review and recommend to the MC on Regulatory and Shariah-related matters applicable to the Association and on issues in the Takaful Industry for further deliberations or approval;
To deliberate regulatory views on related issues in other MTA subcommittee / working committee if necessary;
To review and discuss work processes to be undertaken to ensure smooth implementation of the relevant regulatory into operational framework of the organisation;
To deliberate common industry issues that may have significant impact to the operation of the industry;
To provide feedback, endorse and validate relevant documentation for the Association’s initiatives, new products and services, including contracts, agreements or other documentation to be executed by MTA as an association with other parties;
To review and provide impact study on the new issuance guidelines/standards/concept papers/Act by BNM and other regulation bodies;
To vet through and advise on the changes of the all MTA guidelines / contracts / documents / agreement legal such as Inter Takaful Agreement (ITA) etc;
To assist and advise relevant parties on Shariah and Regulatory matters that serve the Association, such as its legal counsel, auditor or other consultants, upon request;
To communicate with the relevant regulators and obtain feedback on the issues;
To promote awareness of emerging regulatory and Shariah issues and provide support and coordination with other MTA subcommittees and other relevant parties.