(Challenge Complete)

Related Resources

• SC – UNCDF Driving Islamic Fintech Innovation Ecosystem with FIKRA

Other links:

• FIKRA Launch Broadcast Page
• aFINity (Alliance of FinTech Community) Platform
• SC Malaysia ICM

Background

The FIKRA Islamic Fintech Accelerator Programme (FIKRA) is a joint initiative by the Securities Commission Malaysia (SC) and the UN Capital Development Fund (UNCDF). The objective is to further enhance the Islamic capital market (ICM) ecosystem in Malaysia by identifying and scaling innovative fintech solutions.

FIKRA supports the growth of innovative Islamic fintech solutions through structured mentorship, access to a network of industry and other domain experts, along with relevant regulatory guidance and engagement with investors for funding opportunities, primarily through a 3 month accelerator programme.

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Programme Participants

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Focus Areas

FIKRA invited applications from individuals (at least 18 years old) or start-ups at different stages of development or other organisations including fund managers and financial services providers that have an innovative tech-based idea and/or solution.

The idea/solution must address at least one of the following three key challenge areas:

The applicant and the proposed idea / solution must not involve any Shariah non-compliant activities including services based on ‘riba’ (interest), gambling & gaming, liquor and liquor-related activities, pork and pork-related activities, non-halal food and beverages, Shariah non-compliant entertainment, tobacco and tobacco-related activities, conventional share trading and stockbroking in Shariah non-compliant securities, and other activities deemed non-compliant according to Shariah.

FIKRA was open to Malaysian as well as international applicants from other countries, who can apply independently or as a consortium.

Additional Information

Launch of FIKRA	Webinar - Fintech Landscape in Malaysia: Islamic Capital Markets Affin Hwang Asset Management; Gobi Partners, Malaysia; Jewel Digital Ventures; Kenanga Investment Bank; REDmoney

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Participation Benefits

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Programme Journey

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Evaluation Criteria

The applications were evaluated based on the following criteria:

• Degree of Innovation (40%)
• Sustainability and Commercial Viability (30%)
• Social Impact and Sustainable Development Goals (30%)

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Partners

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Have Questions?

Email us at financial.health@uncdf.org