Company Information

Get to know PayDay Takaful

PayDay Takaful is a Malaysian financial technology company that operates as an approved Financial Adviser and Islamic Financial Adviser by Bank Negara Malaysia (BNM). The company focuses on making Takaful (a form of Islamic insurance) accessible and affordable for the B40 and M40 income groups. Its core business model involves partnering with employers to offer employees various Takaful protection plans, which are conveniently paid for via automated monthly salary deductions. This approach simplifies the process of obtaining protection, aiming to increase insurance penetration among the Malaysian workforce.

Industry

Financial InsurancePRIMARY
Financial Other Service

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PayDay Takaful

United Kingdom

Founded in

2022 (4 Years)

Founded

Last online: No recent activity

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OVERALL SCORE

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Regulated

Recommended

(73 reviews)

Cyprus

2009

(17 years)

Security Information :

CySEC

FSCA

DFSA

Security Information

Warning

This company is currently Unproved.

Please be cautious of the potential risks!

License

A Grade License

Issued by globally renowned regulators, these licenses ensure the highest trader protection through strict compliance, fund segregation, insurance, and regular audits. Dispute resolution and adherence to AML/CTF standards further enhance security.

B Grade License

Granted by respected regional regulators, these licenses offer robust safety measures such as fund segregation, financial reporting, and compensation schemes. Though slightly less strict than Tier 1, they provide dependable regional protection.

C Grade License

Issued by regulators in emerging markets, these licenses offer basic protections such as minimum capital requirements and AML policies. Oversight is less stringent, so traders should exercise caution and verify safety measures.

D Grade License

From jurisdictions with minimal oversight, these licenses often lack key protections like fund segregation and insurance. While attractive for operational flexibility, they pose higher risks to traders.

TrustFinance is not a licensed financial advisor and is not affiliated with any financial institutions in your region. We encourage you to do your own research before making any investment decisions.