“The proposed establishment of the country’s first Social Exchange reflects the government's commitment towards a holistic development approach in nation building, in line with the Madani Economy framework to assist the needy segment of population.

By having a dedicated fundraising platform for projects with positive social outcomes, the SE will further facilitate mobilisation of private and philanthropy capital in meeting the needs of underprivileged.

The SC will come out with the detailed framework on the implementation of the SE in due course, especially in providing governance and assurance requirements to ensure funds raised in the SE will be properly used as intended.

To support fundraising of waqf development via ECF and P2P financing platforms, new incentives under Malaysia Co-Investment Fund (MyCIF) will be introduced to benefit MSMEs, undertaking waqf-related projects, especially in the development of waqf land in the upstream agriculture and bio-economy segments.

This will encourage more MSMEs to work with State Islamic Religious Councils in business ventures that aim for positive social outcomes, at the same time, contributing to the national food security agenda.”