Kuala Lumpur, 27 September 2023 – Malaysia’s premier personal financing institution, Xanderia Sdn Bhd today launched its Personal Financial Restructuring Program for members of the Congress of Unions of Employees in the Public and Civil Service (CUEPACS) Malaysia under its CUEPACS PRIHATIN programme. The Shariah compliant financing program is backed by Xanderia’s fully automated Shariah Compliant financing platform (SPaaS) using DACA technology (digital, algorithm, cloud and analytics). With a fund allocation of RM100 million, it targets 10,000 civil servants.

“Xanderia’s commitment to responsible and ethical financing has led to the formation of this program, which is designed to increase the ease of access to financing”, says Razi Pahlavi Abdul Aziz, Chief Executive Officer of Xanderia Sdn Bhd. He added that this initiative is for the recovery and restructuring of the financial practices of CUEPACS members as well as Malaysian civil servants who experience challenges in obtaining personal financing from banking institutions.

Shariah-compliant financing aims to provide access to financial services for a broader population, and for those who desire it. This can promote economic development and reduce income inequality, leading to a more inclusive economy.

Xanderia’s Shariah Compliant Personal Financing Program provides CUEPACS members and civil servants the ethical option of personal financing through Kanz Raqami, Kanz Al-Ilham, Kanz Al-Sayidat, Kanz Al-Anan, and Kanz Al-Impian. These products are meant to help restructure the personal financing challenges of struggling individuals with the goal of helping them to be accepted by banks and other major financial institutions in the future.

The products and programs aim to enhance Xanderia’s role in Malaysia’s Shariah-compliant financial ecosystem.

The launching ceremony was officiated by Tan Sri Dr. Mohd Daud Bakar, founder of Amanie Group, Dato’ Hj Adnan Bin Mat, President of CUEPACS and Razi Pahlavi Abdul Aziz, Chief Executive Officer and Executive Director of Xanderia.