Marlena Kareem

Bursa Malaysia launched the Bursa Gold Dinar (BGD), a digital platform to buy and sell 24k gold, as part of its repositioning as a multi-asset exchange on the 16th January this year. The ability to purchase stocks on Bursa Malaysia with the BGD may be in the cards “far down the line”, according to Umar Swift, CEO of Bursa Malaysia.

Estate planning is a major challenge in Malaysia, with the upper bound of frozen assets in the country estimated at RM90 billion (US$19.36 billion). ISFI, the sister publication of IFN Fintech, spoke to Ariffin Sabirin, the founder of Wasiyyah Shoppe, and Khairul Nisa Ismail, CEO of Sedania As Salam Capital, about how they are collaborating to address the estate planning challenge for Muslims with the Hibah instrument.

XTCC, a blockchain-enabled exchange-traded carbon credit investment provider, is set to launch a suite of Shariah compliant carbon credit investment products this week, Dr Scott Levy, the managing director of Al Waseelah, which is the issuance platform for XTCC’s Islamic offerings, told ISFI, IFN Fintech's sister publication.

Digital services company MY EG Services (MYEG), the concessionaire for Malaysia’s Electronic Government Multimedia Super Corridor flagship application, issued RM300 million (US$64.12 million)-worth of sustainability Sukuk in August 2023 to fund a blockchain project.

ACS Digital is looking to use carbon scoring as part of its credit rating methodology, according to Raja Teh Maimunah Raja Abdul Aziz, CEO of the AEON Financial Service-led Islamic digital bank.

Digitt Plus, a Pakistani fintech focusing on enabling agricultural productivity, is developing Shariah compliant services to be offered under its soon-to-be launched super app, Ahmed Saleemi, CEO of Digitt Plus, told ISFI, the sister publication of IFN Fintech.

WeGro Technologies, a Shariah compliant agricultural fintech start-up based in Dhaka, has secured US$100,000 in non-repayable funding from the Biniyog Briddhi program’s Impact Ready Matching Fund scheme.