About FIKRA Islamic Fintech Accelerator Programme

The FIKRA Islamic Fintech Accelerator Programme (FIKRA) is a joint initiative by the Securities Commission Malaysia (SC) and the UN Capital Development Fund (UNCDF). The objective of FIKRA is to further enhance the Islamic capital market (ICM) ecosystem by identifying and scaling innovative fintech solutions in Malaysia. FIKRA will connect innovative start-ups through a collaborative environment for mentors, investors and industry enablers, along with relevant regulatory guidance, primarily through a 3-month accelerator programme.

One of the other focus areas of FIKRA is to help position ICM as a lucrative segment for building a career by creating a talent pipeline through increased awareness of opportunities in Islamic fintech.

Programme Details

The FIKRA accelerator programme will run for 3-months, which will include structured support to selected participants. The accelerator participants will go through curated sessions, masterclasses, mentoring and linkages with industry enablers for solution co-creation & testing, as well as solution showcase opportunities. Further, there will be continued post-accelerator tracking and networking opportunities for the participants.

FIKRA invites anyone (18 years old and above) with innovative and tech-based ideas and/or solutions to apply. Applications are open internationally for individuals, start-ups at different stages of development or other organisations that have an idea / solution that can address any of FIKRA’s three key challenge areas as below:
  • New ICM Offerings
    New ideas, products or services uniquely developed for ICM. We hope to see tech-based fintech ideas and solutions that can deliver the value propositions of Islamic finance in its offerings.
  • Access to ICM
    Fintech ideas and solutions that can democratisze the market with innovative products or services that will enhance accessibility and provide greater inclusivity into the ICM. We seek for tech-based ideas or solutions that can strengthen the role of ICM in funding sustainable development needs, advancing the financial inclusion agenda and accelerating the growth of sustainable and responsible investing (SRI) segment.
  • ICM – Social Finance Integration
    Fintech solutions to integrate Islamic social finance instruments into ICM. With the rapidly evolving ICM landscape, there is potential to explore and build avenues to integrate traditional social finance instruments rooted in Islamic values and intended for social benefit, such as waqf, zakat and qard hassan.
Why apply?
Programme Timeline
  • Application Period: 25 May - 30 June 2021 (Deadline extended to 7 July 2021)
  • Selection of start-ups: July 2021
  • Accelerator Programme: Starts in July 2021
  • Demo Day on SCxSC Fintech Conference: October 2021
For more details on the programme and application: 

FIKRA Launch - Live Stream

Contact Us

Have questions about the accelerator programme?

FIKRA Accelerator Programme Participants

Media Release

25 May 2021
SC – UNCDF Driving Islamic Fintech Innovation Ecosystem with FIKRA
Accelerator programme global call for submission kick-starts today!
The Securities Commission Malaysia (SC) and the United Nations Capital Development Fund (UNCDF), through its Centre for Financial Health programme, today launched an innovation programme to develop a vibrant Islamic fintech innovation ecosystem in Malaysia’s Islamic capital market (ICM).

Keynote Address

25 May 2021
Keynote Address at Islamic Fintech Accelerator Virtual Launch
By SC Chairman, Syed Zaid Albar

Today marks another chapter in the Malaysian capital market’s digital journey towards establishing an innovative ecosystem for financial technologies to prosper. Fintech has the ability to fulfil the SC’s digital agenda to enhance access to financing, increase investor participation, augment the institutional market and develop synergistic ecosystems. This year, we want to focus on encouraging greater fintech growth, especially for the Islamic Capital Market (ICM).

Welcome Remarks

25 May 2021
Welcome Remarks at Islamic Fintech Accelerator Virtual Launch
By UNCDF Executive Secretary, Preeti Sinha

It is a great honor for me to deliver, on behalf of the United Nations Capital Development Fund, a keynote speech at the launching event of "FIKRA – Islamic Fintech Accelerator." I would like to first congratulate the Securities Commission of Malaysia for this excellent initiative and would also like to recognize the tremendous efforts of both SC and UNCDF colleagues who have worked very hard to prepare for this, particularly in conceptualizing its substance.

Related Links

For more information on the SC’s Digital and ICM Initiatives and outreach programmes, visit:


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