redONE Mobile has launched redCASH-i, the nation’s first Shariah-compliant personal financing solution by a telco, in partnership with SEDANIA As Salam Capital (SASC). Tailored exclusively for redONE postpaid customers, redCASH-i offers an accessible, ethical, and fully digital financing alternative – marking a major step in redONE’s evolution from telco to fintech.
This new solution builds on the success of redCASH, a digital personal financing product launched in 2023. With redCASH-i, redONE aims to expand access to ethical, inclusive, and convenient personal financing, especially for those in underserved communities.
Digital Financing, Guided by Shariah Principles
The financing facility is available to eligible redONE Postpaid customers with a payment history of at least six consecutive months. Applicants can apply for financing between RM1,000 and RM10,000, with flexible repayment periods ranging from 6 to 24 months.
The application process is fully digital, and financing decisions are typically issued within one working day.
redCASH-i builds upon the success of redCASH (launched in 2023), responding to increasing demand for Shariah-compliant financing, especially from Malaysia’s underserved and informal sectors. As a fully digital product, redCASH-i eliminates hidden charges and delays – users can apply directly via mobile, with decisions made in as little as one business day.
“By delivering a Shariah-compliant, digital-first financing solution, we’re not only empowering our loyal customers with on-demand financial needs, but also redefining what it means to be a telco in today’s evolving landscape,” said redONE Mobile CEO, Ameen Amaendran following an official signing ceremony with SASC at its office today.
A Milestone Collaboration
The initiative is powered by SASC’s As-Sidq platform, a patented Shariah-compliant commodity trading system. The collaboration reflects shared values between redONE and SASC in expanding ethical, value-based finance.
“We are excited to partner with redONE to deliver a solution that blends innovation, ethics, and financial inclusion,” said Khairul Nisa Ismail, CEO of SASC. “Enabled by As-Sidq’s end-to-end automation, 24/7 accessibility and full transparency, redCASH-i eliminates ambiguity, hidden charges and the friction typically associated with financing applications,” added Nisa.
Masyref Advisory, which serves as the Shariah advisor for the programme, affirms the product’s alignment with Islamic finance standards. “As the Shariah advisor, our role is to ensure that every aspect of the financing solution is not only grounded in Islamic principles, but also responsive to the evolving needs of today’s consumers. With our deep expertise in Shariah advisory and Islamic product development, we are proud to support innovative financial solutions like redCASH-i, solutions that uphold the highest standards of Shariah compliance while driving meaningful impact and promote financial inclusion for the community” said Khairil Anuar, the Director of Masyref Advisory.
A New Era for Telcos in Malaysia
This move reinforces redONE Mobile’s strategic shift from mobile connectivity to fintech services, positioning it as a leading digital enabler in the region. With over 1 million subscribers and presence in Malaysia and Singapore, redONE’s expansion into ethical financing is expected to set a precedent for other MVNOs (Mobile Virtual Network Operators) across ASEAN.
redCASH-i reflects the growing integration of telecommunications, fintech, and Islamic finance, offering a streamlined user experience grounded in religious and ethical principles. It is powered by As-Sidq, a patented Shariah-compliant commodity trading system developed by SASC.
Eligible redONE Mobile Postpaid Customers may apply for redCASH-i online at: https://www.redcash.com.my/redcash-i
