MyCIF, a fund administered by the Securities Commission Malaysia (SC) on behalf of the Ministry of Finance (MOF), has also generated a positive net return on capital as at the end of 2020. The SC reported the fund’s activities and performance up to end-December 2020 in MyCIF’s inaugural annual report, which was released today.

SC Chairman Datuk Syed Zaid Albar said, “The SC supports and encourages new digital financial innovations and MyCIF has been successful in assisting our startups and MSMEs to meet their funding needs in this challenging period of post pandemic economic recovery.”

“MyCIF enhances the liquidity of our ECF and P2P Market to provide financing to this critical segment of the Malaysian economy, while at the same time, crowd in a larger pool of investors. This has helped MSMEs get funding and swiftly deploy them for their business needs.”

MyCIF was set up as part of Belanjawan 2019 with an initial RM50 million allocation to co-invest in MSMEs alongside private investors via ECF and platforms. Subsequently, MyCIF received an additional RM50 million allocation as part of Belanjawan 2020, with an additional RM10 million specifically for social enterprises.

The release of the Annual Report reflects MyCIF’s commitment to good governance, and its commitment in promoting transparency on the deployment of public funds and the identity of beneficiaries of the said funds.

The MyCIF Annual Report, as well as details of the scheme, can be found at the SC’s website.