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 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, 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.’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.

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