The Securities Commission Malaysia (SC) has appointed LC Wakaful Digital (LCWD) as Malaysia’s first Social Exchange Platform operator.
The Social Exchange forms part of the Capital Market Masterplan 2026–2030 (CMP). It aims to widen access to social impact financing.
The platform will allow non-profit organisations to raise donations for eligible social projects through a structured and transparent system. Donors will gain clearer visibility over fund use and project outcomes.
SC Chairman Dato’ Mohammad Faiz Azmi said the appointment marked an important step. He said it would help build a market-based and well-governed framework for social finance.
“With the Social Exchange, we are institutionalising trust in social finance,”
he said.
“We are providing a structured avenue for non-profit organisations to scale their impact while giving donors the transparency and confidence they need.”
The appointment follows the Prime Minister’s announcement in May 2024 on the introduction of the Social Exchange. It also follows the completion of a pilot programme conducted by the SC in the first half of 2025.
The Guidelines on Social Exchange Platforms, which set out regulatory requirements for operators and participating organisations, were issued on 19 September 2025, with applications opening on the same date.
LCWD operates as a registered entity under Section 76A of the Capital Markets and Services Act 2007.
As operator, LCWD will establish and run the Social Exchange platform, Impakrintas. The company will also onboard eligible non-profit organisations in line with the Guidelines.
During the first year of Phase 1, the SC will assess market participation.
In addition, the review will cover platform viability and overall market readiness, before the SC subsequently considers appointing additional operators.
The platform will go live on 19 February 2026. In its initial phase, the Social Exchange will facilitate direct cash donations to approved non-profit organisations eligible for tax treatment under the Income Tax Act 1967.
At launch, the platform will onboard six non-profit organisations. These projects will span healthcare access, youth education, food security, inclusive livelihoods and environmental sustainability.
Featured image credit: Edited by Fintech News Malaysia, based on image by freepik
