Islamic Fintech
Malaysian Takaful Association Partners With FAOM to Spur Fintech Adoption
The Malaysian Takaful Association (MTA) signed a Memorandum of Understanding (MOU) with the Fintech Association of Malaysia (FAOM) to spur the adoption of fintech among takaful players in Malaysia. MTA said that this strategic initiative supports the 3 third strategic
Read More
Bank Islam Partners With UK Islamic Fintech Kestrl to Expand Be U’s Personalised Solutions
Bank Islam Malaysia Bhd has chosen Kestrl, a UK based Islamic Fintech that offers personal finance solutions to Muslims, to develop and implement personal financial management (PFM) features for its newly launched digital bank ‘Be U’. Through this partnership, Bank
Read More
Ethis and Gobi Partners to Set Up Shariah-Compliant US$20 Million Seed Fund
Ethis Group, an ethical investment and social finance platform operator, is collaborating with venture capital firm Gobi Partners to structure and set up a US$20 million Shariah-compliant seed fund. The fund, which is targeted to have its first closing by
Read More
TheLorry Partners With microLEAP for up to RM 500,000 in Shariah-Compliant Financing
Shariah-compliant P2P financing platform microLEAP announced a strategic and multi-faceted partnership with TheLorry, a Malaysian logistics tech platform. This strategic collaboration provides TheLorry with flexible and convenient invoice financing as well as term financing options through microLEAP’s network of local
Read More
PayHalal Partners Atome to Offer Islamic Buy Now, Pay Later Feature
Syariah-compliant payment gateway PayHalal is now offering merchants participation in its inaugural iBNPL facility jointly offered with buy now, pay later (BNPL) platform Atome. This Islamic BNPL programme offered by PayHalal and Atome seeks to provide merchants with sustainable income
Read More
Grab Partners Sedania to Roll Out Islamic Lending Products its Gig Workers
Grab Financial Group (GFG) Malaysia and SEDANIA As Salam Capital Sdn Bhd (SASC) are partnering to offer Grab Cash Financing-i, a shariah-compliant financing product, to eligible Grab drivers and delivery partners. Grab Cash Financing-i aims to provide its gig workers
Read More
Wahed Invest Charged by SEC for Misleading Clients and Shariah Compliance Failures
Wahed Invest was charged on Thursday by The Securities Exchange Commission (SEC) in the US for making misleading statements, breaching its fiduciary duty, and for compliance failures related to its Shariah advisory business. According to the SEC’s order, from September
Read More
Boost Forays into Islamic Fintech with New MSME Financing Scheme
Axiata’s fintech arm Boost is offering micro, small and medium enterprises (MSMEs) financing up to RM100,000 financed through its digital lending subsidiary Boost Credit that was formerly known as Aspirasi. ‘Capital Plus’ is a Shariah-compliant micro-financing facility based on commodity
Read More
The Islamic Fintech Landscape in Malaysia, Where Do We Stand?
In the recent release of the Capital Market Masterplan 3 by Securities Commission Malaysia (SC), it was highlighted that Malaysia continues to be a prominent global Islamic Capital Market (ICM) hub, with Islamic assets under management (AUM) growing 2.7 times.
Read More
MoneyMatch Completes RM 1 Million Shariah-Compliant Note on MicroLEAP
Malaysian fintech startup MoneyMatch announced today a strategic and multi-pronged partnership with microLEAP, a Shariah-compliant and Conventional P2P (Peer-to-Peer) Financing Platform, regulated by the Securities Commission of Malaysia. This strategic partnership will entail both MoneyMatch accessing microLEAP’s strong base of
Read More