Securities Commission Malaysia's (SC) Comments on Capital Markets Announcements at GFIEF


Kuala Lumpur, 28 May 2024

The Securities Commission Malaysia (SC) welcomes two capital market-related initiatives announced by Prime Minister Dato' Seri Anwar Ibrahim at the Global Forum of Islamic Economics and Finance (GFIEF) today.

The two are:

  1. Establishment of Malaysia’s first Social Exchange (SE), a structured approach for participation of private capital in projects with positive social outcomes.
  2. Introducing fundraising for waqf developments through P2P financing and equity crowdfunding platforms, with the Government providing matching funding through MyCIF at 0% financing rate.

Quotes by SC Chairman Dato’ Seri Dr. Awang Adek Hussin:

“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.”


about the SC
The Securities Commission Malaysia (SC) was established on 1 March 1993 under the Securities Commission Act 1993 (SCA). We are a self-funded statutory body entrusted with the responsibility to regulate and develop the Malaysian capital market.

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