KL plans investment platform to expand role of Islamic banks
Scheme to serve as marketplace for financing of SMEs
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…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Banking & Finance
Hong Kong crypto ETF launches will test ambition to be digital-asset hub
Visa results beat expectations on strong consumer spending trends
Goldman Sachs shares rise to notch first record high since 2021
Abu Dhabi returns to debt market with new US dollar bond
Ping An profit falls as market declines hurt investment returns
BOJ will hike rates if trend inflation accelerates, says Ueda