P2P Financing Platform to Provide USD 2.4 Million in Shariah-Compliant Microfinancing for Malaysia’s Agriculture Community

Malaysian peer-to-peer (P2P) financing platform, microLEAP, which provides Islamic and conventional financing, will be collaborating with Bank Pembangunan Malaysia Berhad (BPMB) to fund Malaysia Digital Economy Corporation’s (MDEC) Digital Agtech Programme. According to a recent microLEAP statement, MYR 10 million (USD 2.4 million) in Shariah-compliant microfinancing has been allocated for Malaysia’s agriculture community.

Why it Matters?

Microfinancing will enable farmers to boost the use of smart farming systems and adoption of technology known as ‘smart fertigation system’ in their operations. According to the statement, the technology will help optimise the use of fertilisers, as well as improve farmers’ income by 33...