Sedania Innovator, Elzar Shariah Solutions partner to innovate Islamic fintech
KUALA LUMPUR: Sedania Innovator Bhd (Sedania) through its wholly-owned subsidiary Sedania As Salam Capital (Sedania As Salam), entered into a Joint Venture and Shareholders Agreement with Shariah Solutions Sdn Bhd (Elzar Shariah) to jointly form a new company named Barie Technologies Sdn Bhd (Barie Technologies).
The agreement is signed by Datuk Azrin Mohd Noor on behalf of Sedania As Salam, and Professor Dr Zaharrudin Abdul Rahman on behalf of Elzar Shariah.
Sedania As Salam operates AsSidq, an Islamic Financial Trading Platform, that facilitates Islamic Financing through Financial Technology.
Elzar Shariah is nominated by Professor Dr Zaharrudin Abdul Rahman to represent his interest in Barie Technology. Prof Dr Zaharuddin is a renowned expert in Islamic Finance.
He is currently serving as the Shariah Advisor to Sedania As Salam Capital Sdn Bhd and EPF Islamic (EPFi). His extensive background in shariah-compliant products and processes, together with Sedania As Salam’s ability to innovate and develop Islamic Fintech services, will form an integral bond for the new company.
Sedania Innovator chief executive officer Daniel Ruppert said, “We have incredible new ideas for Islamic Fintech services but combining Shariah compliance, banking requirements and new user behaviour is like solving a 3D puzzle - and we love puzzles!
“With the expertise from both parties in Islamic Finance, we will be able to create new, state-of-theart Fintech services for our over 40 Financial Service companies clients in Malaysia, as well as new prospects overseas.”
Zaharuddin added, “While Malaysia has become a global hub for Islamic Finance, there is still a big potential for shariahcompliant Fintech. We expect this cooperation will become a catalyst for the expansion for Sedania As Salam and Elzar Shariah, and help the nation towards becoming an international leader in Islamic Fintech.”