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KL plans investment platform to expand role of Islamic banks

Scheme to serve as marketplace for financing of SMEs

Published Mon, Nov 10, 2014 · 09:50 PM
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Kuala Lumpur

THE Malaysian government plans to roll out a new syaria-compliant investment platform next year, aiming to broaden the traditional role of Islamic banks from credit provider to investment intermediary.

The government is backing the Investment Account Platform (IAP) with an initial start-up fund of RM150 million (S$58 million), intending that the IAP will serve as a central marketplace to finance small and medium-sized businesses.

Under the scheme, announced as part of the 2015 budget, Islamic banks would vet businesses seeking funds, provide a secondary market for investo…

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