Securities Commission to create Islamic fintech accelerator programme

KUALA LUMPUR, April 22 — The Securities Commission Malaysia (SC) is in the process of creating an Islamic financial technology (fintech) accelerator programme in collaboration with The United Nations Capital Development Fund (UNCDF). 

Its executive director of digital strategy and innovation Chin Wei Min said the new accelerator programme will be announced in the coming weeks and SC is working to create a market ecosystem that will spur a healthy growth in the fintech sector.

“The Islamic fintech and Islamic capital market in general has been a strategic focus for us this year.

“The key objective in creating the accelerator programme is to encourage more local and international providers to come to our place to continue to spur innovation within the whole Islamic fintech area. 

“By 2021 we will have a dedicated stream on Islamic fintech, so this is something we are working through and all are coming together quite well,” he said in a webinar entitled ‘Fostering Fintech Innovation in Malaysia’s Capital Market’ via Fintech Fireside Asia Youtube channel today.

Chin said the SC is looking at creating sustainability for the sector by inviting more people to come forward, making the whole ecosystem bigger and more complete. — Bernama

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