Demand for Shariah-compliant digital financial services is accelerating across Southeast Asia as fintech firms seek to serve large Muslim populations with technology-driven lending solutions. New platforms are combining Islamic finance structures with automated credit assessment and mobile onboarding to expand access to consumer financing while maintaining strict compliance with religious banking principles.
Singapore-based fintech holding company Fingular has officially launched its new Shariah-compliant consumer financing brand, Tazee, in Malaysia. This strategic debut aims to provide local consumers with fast and accessible digital financing solutions that strictly adhere to Islamic financial principles. The launch represents a significant expansion for Fingular as it seeks to build a full-service neo bank capable of promoting financial inclusion across Asia and the Middle East. All products offered under the Tazee brand are meticulously structured using the Tawarruq or Commodity Murabahah model. This ensures that every transaction is executed on a regulated, Shariah-compliant digital commodity trading platform, maintaining consistency and transparency for the end user.
The Tawarruq structure is a widely recognised method in Islamic finance that allows individuals to obtain liquidity without violating the prohibition against interest. In this specific model, the financier purchases a commodity and sells it to the customer on a deferred-payment basis at a cost-plus profit margin. The customer then sells the commodity to a third party for cash. By utilising a digital commodity trading platform, Tazee can automate these complex steps, providing a seamless user experience that matches the speed of conventional digital lending. Fingular has revealed plans to add more instalment-based options to the platform to cater to a wider range of consumer needs. Furthermore, the firm expects to launch iOS functionality in the near term to complement its existing mobile offerings.
Established in 2021 by Maxim Chernushchenko and Vadim Gurinov, Fingular has rapidly built an operational presence in several key markets, including India and Indonesia. The choice of Malaysia for the launch of Tazee is highly strategic, given the country’s robust regulatory environment and high demand for Islamic financial services. This move reflects a wider push for Shariah-compliant innovation within the Malaysian fintech ecosystem. For instance, Maybank recently launched Shariah-compliant cross-border payments in partnership with XTransfer to serve the growing needs of small businesses. By entering this space, Fingular is positioning itself as a key player in the digital transformation of Islamic banking. The firm focuses on serving underbanked populations by providing a reliable and ethically grounded alternative to traditional high-interest consumer loans.
The introduction of Tazee aligns with Fingular’s broader goal of leveraging advanced technology to drive financial empowerment. The platform uses a proprietary credit scoring engine that analyses a variety of data points to assess creditworthiness in real time. This allows the firm to maintain competitive profit margins while effectively managing risk in a digital-first environment. As the Islamic finance sector continues to grow globally, the demand for sophisticated digital tools that respect religious values is at an all-time high. This milestone confirms that the convergence of ethical finance and agile technology is creating new opportunities for growth in emerging markets. Fingular continues to explore further expansion in the Middle East to solidify its position as a leading global neobank. The success of the Tazee brand in Malaysia will likely serve as a blueprint for future product launches in other jurisdictions with similar cultural and regulatory landscapes.
Key takeaways
- Singapore-based fintech Fingular has launched Tazee, a Shariah-compliant consumer finance brand in Malaysia
- The platform uses the Tawarruq (Commodity Murabahah) structure to ensure Islamic finance compliance
- Financing transactions are executed through a regulated digital commodity trading platform
- Tazee aims to provide fast digital consumer financing for underbanked Malaysian customers
- The platform includes real-time credit scoring using a proprietary data-driven risk engine
- Malaysia was chosen due to its strong Islamic finance ecosystem and supportive regulatory framework
- The launch supports Fingular’s broader strategy to build a digital neobank serving Asia and the Middle East
