The Borneo Post
Sedania As Salam Capital to offer e-Mandate service on e-marketplace
KUALA LUMPUR: Sedania As Salam Capital Sdn Bhd, an Islamic financial technology (fintech) company, will be introducing a direct debit e-Mandate registration service on Assidq. com, its online marketplace for Islamic personal finance products.
The direct debit e-Mandate registration service, namely AsSidq Al-thiqa, allows customers to authorise financial institutions to deduct recurring payments from his/her account.
In a statement yesterday, Sedania As Salam Capital said it is collaborating with Curlec, a fintech company to introduce the service, which would benefit financial institutions through better management of repayment process with no risk of delays.
It added that it would be the first local financial marketplace to incorporate such a feature to manage the consumer segment.
“Concurrently, As-Sidq Althiqa offers a digital solution for customers, who need financing, but face problems because of their poor credit profile score.
“This seamless solution increases customers’ chances of approval by banks or any other financial institution,” it said.
Chief executive officer Nisa Ismail said Sedania As Salam Capital and Curlec will only recommend applicants who are free from any critical credit report flags.
“To put this into effect, financial institutions need to sign up with Assidq.com and include this feature on the platform,” she said.
Once it signs on, the institution can offer selected customers this option, where the customer then will have to consent to the As-Sidq Al-thiqa enrolment via an online form. Following that, the monthly deductions will be carried out seamlessly from the customer’s salary account.
Sedania As Salam Capital, a wholly-owned subsidiary of Sedania Innovator Bhd, is the operator of Assidq.com, an online marketplace for Islamic personal finance products that facilitates the customer’s Islamic financial needs through a personalised profile check with fast approval and disbursements.
Assidq.com’s partners offer a wide variety of Islamic finance products such as personal financing and credit cards to help customers find the best Islamic finance solution.