Singapore-headquartered digital payments and financial services provider SeaMoney, has partnered with Takaful Ikhlas General Bhd (Takaful IKHLAS) to offer Motor Takaful protection on the Shopee app.

The latest addition to Shopee’s growing suite of digital insurance and takaful offerings, IKHLAS Private Car Comprehensive Plus Takaful, aims to provide holistic, Shariah-compliant motor takaful protection to users.

Shariah (Islamic law) forbids Muslims from receiving interest payments and from investing in companies involved in the production or sale of pork, alcohol, tobacco, pornography, gambling and non-Islamically structured finance or life insurance.

Commenting on the partnership, Rudy Rodzila Che Lamin, Interim President & Group Chief Executive Officer of MNRB Holdings Bhd and
President & Chief Executive Officer of Takaful Ikhlas General Berhad, said, “We are excited to collaborate with SeaMoney to offer Malaysians accessible, Shariah-compliant motor protection. This partnership allows us to extend our reach, enhance our services, and deliver on our vision of ‘We Protect Everyone.’”

“By working with SeaMoney, we empower Malaysians to safeguard their vehicles against unforeseen events. With just a few clicks, customers can secure the IKHLAS Private Car Comprehensive Plus Takaful, ensuring peace of mind for every
journey,” he said.

SeaMoney is the leading digital payments and financial services provider in Southeast Asia. Its mission is to better the lives of individuals and businesses in the region with financial services through technology.

SeaMoney’s offerings include its mobile wallet ShopeePay, which provides users with a convenient, secure, payment option both online and offline. SeaMoney also offers other services including SPayLater, a consumer financing solution which enables users to gain financial flexibility with fewer limitations; and other related digital financial services such as micro-lending for both consumers and businesses, as well as purchasing insurance policies.

SeaInsure Agency Malaysia Sdn. Bhd. is a corporate agent appointed to act on behalf of the respective insurers in respect of the distribution of insurance products on the Shopee platform.

Takaful IKHLAS provides financial protection services based on Shariah principles. It offers comprehensive family and general takaful products through Takaful Ikhlas Family Berhad and Takaful Ikhlas General Berhad respectively.

Takaful IKHLAS has 13 regional offices and nearly 2 million registered takaful participants and over 5,000 agents. Both Takaful Ikhlas Family Bhd and Takaful Ikhlas General Bhd are wholly owned subsidiaries of MNRB Holdings Bhd, an investment holding company listed on the Main Market of the Bursa Malaysia Securities Bhd.

Maybank: new monetization avenues to help Sea Ltd to achieve margin targets sooner