SMEs in Islamic Fintech Industry to Benefit from MDEC’s “Malaysia 5.0” Digital Transformation

September 21, 2020

The  Malaysia Digital Economy Corporation (MDEC) is challenging the Fourth Industrial Revolution, by prioritising the digital economy. The focus is on empowering Malaysian’s with digital skills, facilitating digital-powered businesses, as well as driving digital investments, in what MDEC has termed as Malaysia 5.0.

With 98.5% of all businesses (around 1 million) in Malaysia being Small, Medium Enterprises (SMEs) and two-thirds of these falling under the Micro-SME category, there is tremendous opportunity for Malaysia 5.0 to help create a more sustainable and well-rounded economy. MDEC also identifies Islamic finance as an avenue for development and growth, within the digital space.