Malaysia’s Islamic Fintech Industry Supports Financial Inclusion by Establishing Strategic Priorities

A joint statement released by REDmoney Group and the Malaysia Digital Economy Corporation (MDEC) announced the nine strategic priorities arrived at based on input from decision-makers, lenders, stakeholders and other key players in the Islamic fintech ecosystem. Of these, the key initiatives include the setting up of a national Islamic fintech taskforce, a renewed emphasis on enhancing digital and Islamic financial literacy (within the B40 segment in particular), facilitating smart partnerships amongst players within the ecosystem, and ensuring a greater level of readiness to embrace digitisation amongst Islamic institutions.

The main aim of these priorities is to reinforce and enhance financial inclusion in Malaysia, p...