MALAYSIA: Islamic equity crowdfunding (ECF) and P2P solutions contributed over 24% of total alternative funding for 2023, compared to 8% in 2022, said the Securities Commission Malaysia (SC). These eight Islamic ECF/P2P providers, out of 25 in this ecosystem, have contributed to raising over US$262 million in the past seven years. The SC also noted that with 43 active Islamic fintech players as of December 2023, the UK is one of the top jurisdictions globally in Islamic fintech – ranking fifth behind Malaysia, Saudi Arabia, Indonesia and the UAE.
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