The Ipoh City Council (MBI) signed a cooperation with A Tech Insure Sdn Bhd (A Tech) to provide digital insurance and takaful services.
Via this cooperation, A Tech offers a zero interest loan scheme for civil servants for the purpose of financing vehicle takaful premiums and road taxes.
Mayor, Dato’ Rumaizi Baharin said the service will benefit 2,600 staff members of the local authority.
According to him, the zero interest loan scheme is very helpful especially for low-income staff members.
“I’m informed that the repayment provided is up to a period of 10 months.
“Besides that, this scheme is a financial solution which complies with Sharia (syariah).
“Indirectly, this can lessen the financial burden of MBI staff members who have to bear the cost of vehicle insurance renewal every year,” he said.
He established the memorandum of understanding with A Tech represented by its CEO, Syed Alwi Mohamed Sultan.
Present were the Chairperson of A Tech, Tan Sri Abu Kassim Mohamed and City Secretary, Ahmad Munir Ishak.
A Tech is a local Fintech company providing digital insurance and takaful services in Malaysia through the MyEzyCover Scheme.
The effort can also prevent MBI staff members from bearing high interest charges and debt resulting from the use of credit cards, unnecessary loans or worse, taking loans from unlicensed money lenders which is very dangerous.
MBI is the first organisation to obtain such service ahead of other agencies and departments.