SC’s Call for Islamic Finance Collaboration to Shape the Future of Islamic Fintech applauded
- nabalunews
- Sep 10, 2024
- 2 min read

10 September 2024
KUALA LUMPUR: microLEAP, Malaysia’s leading Peer-to-Peer (P2P) financing platform specializing in Islamic financing, welcomes the recent call from the Securities Commission Malaysia (SC) for stakeholders to collaborate in shaping the future of Islamic fintech.
As pioneers in introducing both Shariah-compliant and conventional financing on the same platform, microLEAP fully supports SC Chairman Datuk Mohammad Faiz Azmi’s emphasis on leveraging the ethical principles of Maqasid al-Shariah to engage a broader audience.
microLEAP’s mission is closely aligned with these values, advocating for ethical and inclusive financing while remaining committed to the growth of the Islamic fintech ecosystem.
With physical offices in Sabah, Sarawak, Johor, Perak, and Penang, this strategic move underlines microLEAP's commitment in extending the reach of Islamic financing beyond just the Klang Valley.
In the first half of 2024, 98.7% of the company’s financing notes were Shariah-compliant, showcasing its leadership in this space.
microLEAP disbursed RM46.56 million across 78 notes during Q1 and Q2, and has already disbursed over RM 175 million since its inception.
This significant growth reflects the increasing demand for Islamic financing solutions, aligning with the SC’s findings that Islamic ECF and P2P platforms now contribute 24% of total alternative funding, compared to just 8% in 2022.
Collaboration is key to unlocking the potential of Islamic fintech.
microLEAP continues its ongoing partnership and collaboration with key government bodies, such as the Ministry of Entrepreneur Development and Cooperatives (MEDC), SME Corp, and the Malaysian Technology Development Corporation (MTDC), to advance Islamic finance and ensure greater financial inclusion.
Datuk Mohammad Faiz’s call for a balanced regulatory framework is timely, and microLEAP fully supports the SC’s initiatives to foster innovation while ensuring market integrity.
microLEAP embodies this balance, as demonstrated by its reduction in default rates to 0.77%.
The platform continues to focus on responsible risk management while delivering strong returns for investors, achieving an average return of 15.1% in the first half of 2024.
As Malaysia's P2P financing ecosystem continues to grow, microLEAP remains dedicated to contributing to this upward trajectory.
Its expansion into underserved areas of Malaysia further reaffirms microLEAP's dedication to ensuring that all of Malaysia benefit from the potential of Islamic fintech.
“At microLEAP, we believe in taking bold steps toward a more inclusive and ethical financial ecosystem. By partnering with key government agencies and establishing a physical presence in several states, we are breaking barriers and expanding access to Islamic financing,” said Tunku Danny Nasaifuddin Mudzaffar, Founder and CEO of microLEAP.
“Collaboration is the cornerstone of progress, and together with our partners, we aim to shape a brighter future for Islamic fintech.”
microLEAP stands ready to collaborate with the SC and other stakeholders to build a robust, inclusive, and ethically-driven financial ecosystem. The company remains steadfast in its belief that small steps can lead to a big impact.
microLEAP is Malaysia's premier P2P financing platform, regulated by the Securities Commission Malaysia (SC), offering both Islamic and Conventional financing solutions.
As the first platform in Malaysia to integrate these options seamlessly, microLEAP is also the only P2P platform with dedicated offices and personnel outside the Klang Valley, including in Sabah, Sarawak, Johor, and Perak, ensuring on-ground connectivity and access to underserved regions.
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