Sedania As Salam Capital Sdn Bhd (a subsidiary of Sedania Innovator Bhd) has partnered with FWD Takaful Berhad (“FWD Takaful”) to offer takaful protection for their recently launched GoHalal Financing Program.

According to Sedania As Salam’s CEO Nisa Ismail, the partnership is a significant milestone for the Company as the takaful coverage is not merely a value-add to the program but also serve its community purpose as a risk relief tool to safeguard micro businesses and informal workers segments, especially with heightened uncertainties since the pandemic.

“We want to ensure that the financial capacities for both the customer and credit community companies will not be affected by unanticipated circumstances,” she added.

Wan Ahmad Najib Wan Ahmad Lotfi, FWD Takaful’s Chief Strategy & Digital Distribution Officer, said, “As a digitally-led takaful provider, we’re very excited to be partnering with Sedania As Salam and leveraging their network to offer easy access to our Takaful protection for the lower-income community in Malaysia. This strategic partnership will bridge the need for personal financing or microcredit with takaful protection via the GoHalal Program ecosystem.”

“Financing applicants can easily obtain affordable takaful coverage through our micro-Takaful plan - FWD Kasih, beyond the financing tenure to lessen their financial burden due to unforeseen circumstances. This partnership further strengthens our vision of changing the way people feel about takaful, particularly in enhancing protection for the lower-income community,” he added. 

The GoHalal Financing Program serves as a platform to offer Shariah compliant financing by equipping the community credit companies (licensed by Kementerian Perumahan dan Kerajaan Tempatan) with necessary procedures and required tools for their financial offerings. It is an ecosystem that includes Shariah certification process and advisory on Shariah compliant documents, ready-to-use Tawarruq platform that provides real-time 24/7 trading of digital commodities and digital agreements using automated digital akad, secured direct debit e-mandate, takaful protection, digital marketing services and a financial marketplace.

FWD Kasih provides cover from the age of 19 until 60 years old for those with a monthly personal income of less than RM5,000, with a contribution from as low as RM24* per annum. The plan pays the full sum covered upon death due to natural causes and Total and Permanent Disability (TPD), and 200% of the sum covered on death due to accidental causes. In addition, we’ll also provide RM2,500 as Badal Hajj and RM3,000 as the funeral expense to the participants. FWD Kasih offers four (4) plan options to choose from with a sum covered of RM10,000, RM20,000, RM30,000 or RM40,000.

* Terms and conditions apply