Bank Negara Malaysia (BNM) and the Malaysia International Islamic Financial Centre (MIFC) Leadership Council (MLC) have announced the winners of the MIFC Global Impact Challenge 2025 (MIFC GIC 2025).
In the Social Resilience track, the recipients were e-Wakalah, Gobarakah, and Koha Islamic Digital, while Bagh-e won under the Climate Resilience track.
The awards were presented by Prime Minister Datuk Seri Anwar Ibrahim at the Global Islamic Finance Forum 2025 in Kuala Lumpur.
The winners will receive cash prizes and up to 12 months of post-programme support from the Asia School of Business’ Innovation & Entrepreneurship Center (ASBhive) and global partners to scale their solutions.
Themed “Accelerating Innovation. Empowering Change,” the initiative aims to catalyse impact-driven Islamic finance solutions that strengthen social resilience and address climate challenges.
This year’s challenge drew over 50 applications from 10 countries, with 29 teams joining the accelerator phase and ten finalists pitching at the Demo Day.
In his address, the Prime Minister said Malaysia must lead in aligning Islamic finance innovation with values of justice, equity, and good governance, underscoring that governance is central to the MADANI economic framework.
He noted that Malaysia issued RM20 billion in Sustainable and Responsible Investment sukuk in 2024, highlighting its role in mobilising capital for green and social impact.
BNM Governor Dato’ Sri Abdul Rasheed Ghaffour said,
“We must continue to innovate and amplify the transformative potential of Islamic finance. Through MIFC GIC, we aim to nurture innovations in scaling up impactful Islamic finance products and services.
We invite relevant stakeholders to explore these innovative solutions to drive sustainable growth and address global needs.”
The MIFC GIC is supported by four international partners: the Islamic Finance Council UK, the Hong Kong Trade Development Council, the Islamic Development Bank, and the World Bank Group’s Inclusive Growth & Sustainable Finance Hub in Malaysia.
ASBhive serves as the knowledge partner and accelerator programme provider, with the Fintech Association of Malaysia and the Association of Shariah Advisors in Islamic Finance Malaysia as ecosystem partners.
The media partners are Islamic Finance News and Fintech News Malaysia.
Featured image: Edited by Fintech News Malaysia, based on image by user17364411 via Freepik
