MALAYSIA: Government agency Bumiputera Agenda Steering Unit (Teraju) launched its launched Islamic Working Capital Project Financing program to offer small businesses via P2P digital platforms access to short-term financing, backed by due invoices, as working capital. Funding will come from investors – who will get Islamic investment notes, with financing up to 12 months for repayments. Bernama reported that the largest portion was awarded to Shariah compliant microLEAP – with financing of up to RM1 million (US$232,078) per transaction and up to 12% per annum profit rates. These funds are directed toward high-growth sectors such as renewable energy, technology & digital, electrical & electronics, agriculture & agro-based, and rare earth industries.
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