BigPay partners with Bank Rakyat to offer Shariah-compliant Personal Financing-i via BRICK platform

BigPay has entered into a strategic partnership with Bank Rakyat to enable seamless access to the latter’s Shariah-compliant Personal Financing-i through the BigPay app, which will direct users to Bank Rakyat’s “BRICK” virtual banking platform for more information and the financing application process.

Partnership Overview
- BigPay has teamed up with Bank Rakyat to provide Shariah-compliant Personal Financing-i.
- The financing is accessible through the BigPay app, which directs users to Bank Rakyat’s BRICK virtual banking platform for details and applications.

Key Features
- Product Offered: Personal Financing-i InstaCash
- Loan Amounts: Up to RM50,000
- Rates: Starting from 7.60% per annum
- Eligibility: Available to active BigPay users, but also open to all Malaysians.

Strategic Goals
- Financial Inclusion: BigPay emphasizes empowering Malaysians with access to Islamic financing.
- Transparency & Accessibility: Financing options are integrated directly into the BigPay app for ease of use.
- Shariah Compliance: Ensures offerings align with Islamic financial principles.

How It Works
1. Users open the BigPay app.
2. They are directed to Bank Rakyat’s BRICK platform.
3. Applications for financing can be completed seamlessly online.

This partnership is essentially about making Islamic personal financing more accessible and digital-first, aligning with Malaysia’s push for inclusive financial solutions.