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KUALA LUMPUR, 3 November 2026 – INCEIF University and Prudential BSN Takaful Berhad (PruBSN) have launched a RM500,000 Social Takaful Fund Research Project aimed at developing a sustainable framework to expand financial protection for vulnerable and underserved communities in Malaysia.
The collaboration seeks to integrate takaful with Islamic social finance instruments, including zakat and waqf, to explore practical and sustainable ways of protecting lower-income households against unexpected financial hardship.
The launch was attended by Ms Diana Margarita Guzmán, Group Chief Sustainability Officer of Prudential plc and Chair of the Prudence Foundation; Encik Shahrul Azlan Shahriman, Chief Executive Officer of PruBSN; and Professor Emeritus Dato’ Dr Mohd Azmi Omar, President and Chief Executive Officer of INCEIF University.
Speaking at the ceremony, Professor Emeritus Dato’ Dr Mohd Azmi Omar emphasised that the growth of Islamic finance must translate into meaningful benefits for society.
“The next chapter of takaful will not be measured only by how much it grows. It will be measured by whom it protects,” he said.
He added that the collaboration reflects INCEIF University’s commitment to connecting academic research with industry practice, bringing together Shariah expertise, research and talent development to address the protection needs of vulnerable communities.
Welcoming the initiative, Encik Shahrul Azlan highlighted PruBSN’s commitment to financial protection, noting that the company had paid out RM1.3 billion in claims and benefits. The research collaboration represents a further opportunity to explore how protection can be extended to communities facing financial constraints.
Ms Diana Margarita Guzmán emphasised the importance of translating industry experience into sustainable and scalable solutions.
“The objective is not simply to confirm what has been done. The objective is to identify what can be improved and allow others to replicate it, to amplify the impact,” she said.
She also highlighted the Prudence Foundation’s support for the research, recognising the importance of academic independence, sound governance and institutional collaboration in strengthening community resilience.
Moving forward, the research will examine sustainable funding mechanisms, Shariah governance and operational frameworks, with opportunities for wider engagement involving State Islamic Religious Councils, zakat and waqf institutions, takaful operators and other relevant stakeholders.
Through this partnership, INCEIF University and PruBSN aim to lay the groundwork for a social takaful model that can be adopted more widely, strengthening financial inclusion and ensuring that protection reaches communities that need it most.
ENDS