Malaysia’s Boost Holdings Offers Islamic Financing Scheme to MSMEs

Boost Holdings (Boost), Axiata Group Berhad’s (Axiata) fintech arm, is offering micro, small and medium enterprises (MSMEs) financing of up to MYR 100,000 (USD 23,900) through a Shariah-compliant financing scheme named Capital Plus.

Why it Matters?

Capital Plus aims to assist MSMEs in sustaining their business through the various challenges posed by the pandemic, particularly maintaining a steady cashflow, according to Boost’s Chief Executive Officer (CEO), Anthony Sheyantha Abeykoon. A three-month moratorium is thus incorporated into the scheme along with a maximum tenure of 15 months and a low profit of 1.2% per month for financing ranging from MYR 1,000 (USD 239) to MYR 100,000 (USD 23,900).

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