KUALA LUMPUR: Sedania As Salam Capital Sdn Bhd, a subsidiary of Sedania Innovator Bhd, has partnered with FWD Takaful Bhd (FWD Takaful) to offer takaful protection for their recently launched GoHalal Financing Programme.
Sedania As Salam's chief executive officer Nisa Ismail said the partnership is a significant milestone for the company as the takaful coverage is not merely a value-add to the programme 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 said in a statement today.
The programme serves as a platform to offer shariah compliant financing by equipping the community credit companies licensed by the Ministry of Housing and Local Government, 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 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 Takaful chief strategy and digital distribution officer Wan Ahmad Najib Wan Ahmad Lotfi said as a digitally-led takaful provider, the company is positive of its partnership with Sedania As Salam and leveraging their network in offering Malaysians inclusive of the lower-income community easy access to its takaful protection plan.
"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 online micro-takaful plan - FWD Kasih, beyond the financing's tenure to lessen their financial burden due to unforeseen events.
"We believe this partnership further strengthens our vision of changing the way people feel about takaful to all walks of life particularly bringing significant benefits for the lower-income community," he said.
FWD Kasih provides cover from the age of 19 until 60 years old for those with a monthly personal income of RM5,000 per month and below with a contribution from as low as RM24 per annum.
The plan pays full sum covered upon death due to natural causes and total and permanent disability (TPD), and 200 per cent 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 plan options to choose from with a sum covered of RM10,000, RM20,000, RM30,000 or RM40,000.