Shariah Screening Automation
Automated implementation of the SC Malaysia MSME Toolkit benchmarks — business activity classification using MSIC codes, financial ratio calculation against published thresholds, and structured compliance reporting.
ASPAR
Aspar Technologies
Shariah compliance technology for Islamic finance
We build infrastructure that automates Shariah compliance screening, monitoring, and governance reporting for the Malaysian Islamic finance ecosystem.
About
Aspar Technologies is a Malaysian fintech company specializing in Shariah compliance technology for Islamic financial institutions. We operationalize the Securities Commission Malaysia's Shariah Screening Assessment Toolkit using verified financial data — turning a manual process that takes weeks into automated screening that takes seconds.
Our Expertise
Multi-Source Data Integration
Combining CTOS credit data, SSM company registrations, MSIC business classifications, and bank statement analysis to produce data-driven screening assessments instead of self-declaration.
Compliance Monitoring & Reporting
Continuous monitoring for compliance drift, automated alerts when financial ratios approach thresholds, portfolio-level dashboards, and structured reports designed for Shariah Committee meetings and regulatory examination.
HalalPass
Shariah compliance screening for unlisted Malaysian MSMEs
HalalPass automates Shariah compliance screening for Malaysia's 1.1 million unlisted MSMEs. The platform applies the SC Malaysia Shariah Screening Assessment Toolkit methodology against verified company data, producing structured screening assessments in minutes.
The SC published the rules. We wrote the code.
One platform, multiple stakeholders
Takaful Operators
Screen SME participants at onboarding and monitor portfolio compliance continuously. Replace sample-based audits with systematic screening coverage.
Islamic Banks
Assess borrower Shariah compliance as part of the credit workflow. Identify Shariah Non-Compliance exposure across your SME financing portfolio.
Shariah Advisory Firms
Pre-screen SMEs automatically so advisors can focus on judgment calls, not spreadsheet calculations. Generate structured reports from templates.
ECF/P2P Platforms
Screen issuers during pre-listing due diligence via API. Continuous monitoring with alerts for post-listing compliance drift.
Built on Regulatory Standards
Our screening engine implements the Securities Commission Malaysia's Shariah Screening Assessment Toolkit for Unlisted MSMEs — the methodology endorsed by the SC's Shariah Advisory Council. We apply the regulator's published benchmarks. We did not invent our own methodology.
Business Activity Benchmarks
Revenue and profit before tax from non-compliant activities must fall below published thresholds (5% for prohibited activities, 20% for non-compliant rental income).
Financial Ratio Benchmarks
Cash in conventional accounts must be below 33% of total assets. Interest-bearing debt must be below 49% of total assets.
The SC does not involve itself in individual assessments and does not endorse assessment results. HalalPass applies the SC's published methodology as a screening tool to support decision-making. Our assessments are screening opinions, not Shariah certifications or fatwas.