Securities Commission Malaysia Collaborates With the UNCDF to Expand Islamic Fintech Via FIKRA

Adding to its efforts to enhance the presence of Islamic financial technology (fintech) in Malaysia, the Securities Commission Malaysia (SC) has collaborated with the United Nations Capital Development Fund (UNCDF) and unveiled its FIKRA Islamic Fintech Accelerator Programme (FIKRA).

Why it Matters?

The objective of FIKRA is to identify and scale innovative Islamic fintech solutions that would address three main challenges, namely, new Islamic capital market offerings, accessibility and social finance integration. Speaking at the launch, Chairman of SC, Datuk Syed Zaid Albar, noted that Islamic fintech in the Malaysian capital market is still at its early stages, but there is significant potential for exponential growth if the ecosystem is conducive....