Sedania As Salam Capital Sdn Bhd: Company Profile

Background

Overview

Sedania As Salam Capital Sdn Bhd (SASC) is a technology provider specializing in Islamic fintech solutions for financial services institutions (FSIs). Established in 2005 and headquartered in Petaling Jaya, Malaysia, SASC is a wholly-owned subsidiary of Sedania Innovator Berhad. The company is dedicated to facilitating the digital transformation of FSIs while ensuring strict adherence to Shariah principles.

Mission and Vision

SASC's mission is to empower financial institutions and communities with Shariah-compliant, technology-driven products that support financial well-being. The company envisions a future where finance is both digital and deeply principled, promoting ethical growth through innovation.

Primary Area of Focus

SASC focuses on developing and operating industry-leading, Shariah-compliant digital platforms for banks, telecommunications service providers, and other FSIs. Their solutions aim to enhance financial inclusion and streamline financial services by integrating technology with Islamic finance principles.

Industry Significance

As a pioneer in Islamic fintech, SASC plays a crucial role in bridging the gap between traditional financial services and the digital economy. By offering innovative solutions that adhere to Islamic finance principles, SASC contributes to the growth and modernization of the financial sector in Malaysia and beyond.

Key Strategic Focus

Core Objectives

Digital Transformation: Enable FSIs to transition seamlessly into the digital era while maintaining Shariah compliance.

Financial Inclusion: Expand access to financial services for underserved communities through inclusive and ethical financial products.

Innovation: Develop and implement cutting-edge fintech solutions that address the evolving needs of the financial sector.

Specific Areas of Specialization

Digital Commodity Trading: Facilitate Tawarruq transactions using telecommunications airtime credit as a trading commodity.

Shariah-Compliant Financing Programs: Offer financing solutions that adhere to Islamic finance principles, such as the GoHalal Financing Program.

Islamic Inheritance Planning: Provide digital platforms for managing Islamic inheritance, exemplified by the JOMHIBAH solution.

Key Technologies Utilized

As-Sidq Platform: A patented digital commodity trading platform that revolutionizes Tawarruq transactions.

Cloud-Native Core Banking: A Shariah-compliant, cloud-native core banking platform built for agility and growth.

Digital Platforms: Developed for financial institutions to offer Shariah-compliant products like personal financing and credit cards.

Primary Markets or Conditions Targeted

Financial Institutions: Banks and other FSIs seeking to modernize their services while adhering to Islamic finance principles.

Underserved Communities: Individuals and businesses lacking access to traditional financial services, particularly in the gig economy.

Telecommunications Companies: Service providers interested in integrating financial services into their offerings.

Financials and Funding

Funding History

Specific details regarding SASC's total funds raised and recent funding rounds are not publicly disclosed. The company operates as a wholly-owned subsidiary of Sedania Innovator Berhad, which is listed on the ACE Market of Bursa Malaysia.

Notable Investors

As a subsidiary of Sedania Innovator Berhad, SASC's investors include the parent company's shareholders and stakeholders. Detailed information about individual investors is not publicly available.

Intended Utilization of Capital

While specific plans for capital utilization are not publicly disclosed, SASC's strategic initiatives likely include:

Product Development: Enhancing existing platforms and developing new solutions to meet market demands.

Market Expansion: Extending services to new regions and customer segments.

Operational Scaling: Investing in infrastructure and talent to support growth and innovation.

Pipeline Development

Key Pipeline Candidates

As-Sidq Tawarruq Platform: A fully digital commodity trading platform facilitating real-time, Shariah-compliant transactions.

GoHalal Financing Program: A Shariah-compliant financing program designed to expand financial access across diverse communities.

JOMHIBAH Islamic Inheritance Planning: A digital hibah platform simplifying Islamic inheritance, in partnership with Wasiyyah Shoppe Berhad.

Stages of Product Development

As a fintech company, SASC's products are in various stages of development and deployment:

As-Sidq Platform: Operational and serving multiple FSIs.

GoHalal Financing Program: Active and disbursing funds to underserved communities.

JOMHIBAH Platform: Launched and integrated with Wasiyyah Shoppe Berhad's services.

Target Conditions

Financial Inclusion: Providing access to financial services for underserved and unbanked populations.

Shariah Compliance: Ensuring all financial products and services adhere to Islamic finance principles.

Relevant Timelines for Anticipated Milestones

GoHalal Financing Program: Since its inception, the program has facilitated nearly MYR 2 billion ($480 million) in cumulative financing, empowering gig workers, small traders, and independent earners nationwide.

Technological Platform and Innovation

Proprietary Technologies

As-Sidq Platform: A patented digital commodity trading platform that revolutionizes Tawarruq transactions using telecommunications airtime credit as a trading commodity.

Cloud-Native Core Banking: A Shariah-compliant, cloud-native core banking platform designed for agility and scalable growth.

Digital Product Platforms: Developed to enable financial institutions to offer Shariah-compliant products such as personal financing and credit cards, integrating advanced fintech capabilities with Islamic finance principles.