SC: Fintech to be leveraged as innovative solution enabler in M’sian Islamic capital market

Financial technology (fintech) will be leveraged as an enabler for innovative solutions focusing on the halal economy, socially responsible investing (SRI) and Islamic social finance to further grow the Malaysian Islamic capital market (ICM), says the Securities Commission Malaysia (SC).

SC Islamic capital market development executive director Sharifatul Hanizah Said Ali said the regulator also expects greater adoption of digitisation and technology to broaden and accelerate the capacity for stakeholders to enhance the Islamic finance ecosystem.

“The digital solutions would facilitate connectivity by allowing issuers, investors, and intermediaries to access existing and new markets in a more efficient and cost-effective manner, thereby accelerating the industry’s growth,” she told Bernama via an email interview recently.

Sharifatul Hanizah said post COVID-19, the small and medium enterprise (SME) industry had acknowledged the importance of going digital and utilising fintech to ensure continuous operationalisation of their business activities, as well as to gain access for capital to maintain and expand their business.

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