Handshakes Technology and Syarikat Takaful Malaysia Am Berhad have signed an agreement to work together and improve compliance in Malaysia’s takaful (Islamic insurance) sector using data and technology.
This partnership will help companies better track risks and follow rules more effectively. Instead of doing checks only at certain times, they will now use continuous, data-based monitoring to spot issues early. The move also supports Bank Negara Malaysia guidelines on preventing money laundering, terrorism financing and other financial crimes.
“This partnership reflects a shared commitment to enhancing compliance capabilities through data and technology. By embedding real-time intelligence directly into day-to-day decision-making, we are enabling financial institutions to better identify risk – addressing it as it emerges, not after the fact. Our collaboration with Takaful Malaysia Am marks a strong step forward in that direction,” said Daryl Neo, Chief Executive Officer and Co-Founder, Handshakes Technology (Malaysia) Sdn. Bhd.
“Strong governance and transparency are fundamental to sustaining trust in the takaful sector, underpinning our commitment to fairness, accountability and Shariah-aligned practices. This partnership is about strengthening how risk is understood, assessed and managed across the business,” said Mohamed Sabri Bin Ramli, Chief Executive Officer, Syarikat Takaful Malaysia Am Berhad.
“As expectations on governance continue to evolve, takaful operators require greater clarity, consistency and speed in decision-making and execution. This collaboration enables us to move forward with greater confidence and agility, while contributing to higher standards and reinforcing trust across the industry,” Sabri added.
About Handshakes Technology
Handshakes Technology is a data and regulatory technology company that helps businesses understand company information and risks more clearly. It collects data from official company records, business relationships and financial markets across Southeast Asia, and turns it into useful insights.
Its tool, the Handshakes app, helps users find hidden connections between people and companies, even up to three levels apart. This helps professionals in risk, compliance, audit, and investigations identify who really owns a business and spot possible conflicts of interest.
Handshakes is trusted by regulators and financial institutions across Asia to make better and more informed decisions using deeper data insights.
About Takaful Malaysia
Syarikat Takaful Malaysia Berhad was founded on 29 November 1984. In 2018, following new rules under the Islamic Financial Services Act, the company split its business into two separate parts.
Now, Syarikat Takaful Malaysia Keluarga Berhad handles family (life) takaful services, while Syarikat Takaful Malaysia Am Berhad manages general (non-life) takaful services. Takaful Malaysia Keluarga is the parent company and fully owns Takaful Malaysia Am.
The group has a share capital of RM357.87 million and total assets of RM18.1 billion as of the end of 2025. Both companies operate under the Takaful Malaysia brand and have branches in 23 locations across the country.
