IBPO Group Berhad, a leading fintech and financing solutions provider, has signed a Memorandum of Understanding (MOU) with Afsha Shariah Advisory Sdn Bhd, appointing them as the official Shariah adviser. This strategic move aims to bolster IBPO’s commitment to offering Shariah-compliant financial solutions amidst rising demand for ethical and responsible financing.
The collaboration will see Afsha support IBPO’s Islamic financing programmes, including iPersonal Financing, iBridge Financing, and Payday Financing, ensuring they adhere to Shariah principles. Andy Lim, Founder and Group Managing Director of IBPO, expressed pride in the partnership, stating, “This further reinforces our ongoing commitment to delivering an inclusive, ethical, and comprehensive Islamic financial ecosystem.”
Afsha’s Managing Director, M Aminuddin Bin Ismail, highlighted the firm’s mission to guide clients in structuring ethical and transparent Shariah-compliant financing solutions. “We look forward to guiding IBPO in structuring ethical and transparent Shariah-compliant financing solutions that meet the growing demand in Malaysia’s Islamic financial ecosystem,” he said.
The partnership aligns with Bank Negara Malaysia’s report indicating that Islamic financing accounts for 48% of Malaysia’s total financing, reflecting a significant demand for Shariah-compliant offerings. IBPO’s new iPersonal Financing programme offers flexible payment options and is accessible via their Online Customer Financial AI Portal, which provides AI-driven insights for better financial management.
This initiative is part of IBPO’s efforts to leverage AI capabilities, aiming to create an integrated financial ecosystem across its subsidiaries.
