Funding Societies Unveils Suite of Islamic Financing Solutions for Malaysian SMEs
Funding Societies, the largest SME digital finance platform in Southeast Asia has introduced a suite of Islamic financing solutions for Malaysian micro, small, and medium enterprises (MSMEs). These Shariah-compliant options, including Business Term Financing-i, Micro Financing-i, and Invoice Financing-i, address the RM90 billion SME financing gap in Malaysia. By offering Shariah-compliant financing, Funding Societies aims to support the growth of Malaysian SMEs and align with the country’s leadership in Islamic finance.
Wong Kah Meng, Group COO of Funding Societies Malaysia Modalku, emphasized the importance of access to finance for inclusive growth and MSME development. The launch of Islamic financing responds to the demand for Shariah-compliant solutions among Muslim entrepreneurs and the wider appeal of fairness and transparency in fees and charges. These financing options provide creditworthy MSMEs with tailored support to thrive in the Malaysian market.
In addition to Islamic financing products, Funding Societies has developed Shariah-compliant investment options, allowing investors to diversify their portfolios and support the Malaysian economy. The response from investors, including retail, high-net-worth individuals, and institutions, has been encouraging. Funding Societies look forward to collaborating with financial institutions to offer Shariah-compliant investments and expand the reach of these products.
Funding Societies’ launch of Islamic financing solutions aligns with Malaysia’s ambitions to lead in Islamic finance and focus on the Islamic digital economy and fintech. By catering to the needs of creditworthy MSMEs and offering Shariah-compliant options, Funding Societies contribute to closing the SME financing gap and driving the growth of the Malaysian economy. Through its commitment to inclusivity, innovation, and ethical finance, Funding Societies supports Malaysian MSMEs and investors, fostering sustainable economic development and financial inclusivity.
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