Supply Chain Council of European Union |

TFX Islamic launches supply chain finance platform

KUALA LUMPUR: Fintech company TFX Islamic Sdn Bhd expects its Islamic supply chain finance platform, TFX Islamic, which was launched on Tuesday, will enable high potential SMEs scale their business to the next level.

It said the Islamic supply chain finance platform, which was targeted at the local and regional market, would assist SMEs during the current challenging economic conditions amid the Covid-19 pandemic.

TFX Islamic said the supply trade financing landscape has evolved and businesses are seeking different avenues to improve the supply chain significantly.

Corporations can potentially save millions of ringgit worth of finance-related costs by implementing supply chain financing, which leverages on financing cost arbitrages between buyers and sellers to optimise their working capital needs, it explained.

The TFX Islamic platform provides real time seamless transaction process, data analytics, and a new approach to risk mitigation and credit assessment with speed and efficiency as well as transparency and trust.

Its CEO Norita Ja’afar described the launch as very timely as cash optimisation and working capital are the core fundamentals for any company.

“We hope to help high potential SME businesses simplify their financial operations and process complexities to move from their working capital position and to scale their businesses to the next level.

“We link partners as well as create a vendor management system, connecting buyers, sellers and financial institutions on our online digital platform. Most importantly, this is done with security, transparency and simplicity in mind, making it easy to use while the risk is mitigated along with the supply chain system.

“Our TFX Islamic platform is also backed by our own proprietary credit assessment system where we assess businesses based on holistic view with forecast within the methodology. Historical data to manage credit assessment is a huge challenge after businesses undergo moratorium and business downturns, ” Norita said.

TFX Islamic’s parent is Seabridge TFX of Singapore, which is part of the Refinitiv Group (previously Thomson & Reuters) and Seabury TFX of Hongkong.

Related posts

Challenges to the food supply chain


What is blockchain’s role in supply chain? | Technology


China rejects accusations of using penal labour for Tesco supply chain | Watch News Videos Online –


Leave a Comment