KL plans investment platform to expand role of Islamic banks
Scheme to serve as marketplace for financing of SMEs
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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.
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