Singapore-based fintech Fingular has expanded into Shariah-compliant consumer finance in Malaysia with the launch of Tazee, a Shariah-compliant digital lending platform designed to provide fast and accessible financing solutions that strictly adhere to Islamic financial principles. The platform extends Fingular's existing Malaysian consumer-finance business into the Shariah-compliant segment. "Malaysia has a well-developed Islamic finance ecosystem, yet there is still a clear gap in the digital segment for fast, small-ticket solutions," said co-founder Maxim Chernushchenko.
Tazee operates using the Tawarruq, also known as Commodity Murabahah, a structured Islamic financing mechanism that enables consumers to access credit while maintaining compliance with Shariah law. Financing involves the purchase and sale of a digital commodity, executed via Sedania's As-Sidq Digital Commodity Trading Platform.
TARGETING UNDERSERVED SEGMENTS
The launch positions Fingular to serve customers seeking fast, small-ticket Shariah-compliant financing. "We are building a dedicated business line for customers for whom shariah compliance is a fundamental requirement," Chernushchenko said.
According to the company, traditional Islamic banks typically target larger loan amounts with longer repayment periods, while conventional short-term lenders often lack consistent Shariah compliance across their product lines; Tazee aims to bridge this divide by combining speed, accessibility and a transparent Shariah-aligned structure.
REGULATORY ENVIRONMENT AND GROWTH
Tazee's operating entity, Wawasan Cojaya Sdn Bhd, is licensed for online money lending under Malaysia's Ministry of Housing and Local Government and holds independent Shariah certification from a Malaysian advisory firm (Masryef).
Tazee is available via web and Android, with an iOS launch planned in the near term, and Fingular plans to introduce additional instalment-based options.
MARKET IMPLICATIONS
The launch adds a digital, Shariah-compliant option for consumers who prioritise both religious compliance and digital convenience.