MALAYSIA: The Securities Commission Malaysia (SC) has launched SARANA, an alternative financing scheme offered by nine SC-registered P2P platforms – seven of which provide Shariah financing.
The initiative aims to address the working capital needs of MSMEs and small contractors participating in government contracts under the scope of supplies, services or works.
The participating P2P platform operators offering Islamic facilities are Bay Smart Capital Ventures, Capsphere Services, Crowd Sense, P2P Nusa Kapital, MicroLEAP, Modalku Ventures and Moneysave (M).
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