Funding Societies Malaysia, one of Qualgro’s portfolio companies, achieved a key milestone as they successfully disbursed RM300 million in Islamic financing solutions to over 2,500 micro, small, and medium enterprises (MSMEs) within just a year of launching.
Their Shariah-compliant offerings are crucial to bridging the RM290 billion MSME funding gap and strengthening Malaysia’s position in global Islamic finance and capital markets.
The Country Head, Kien Poon Chai, remarked, “This underscores the interest and demand for both Islamic financing and investment products. Islamic financing already constitutes 15% of our portfolio, and we aim to increase this to 50% by 2025.”
Moving forward, Funding Societies Malaysia plans to support underserved SMEs through diverse short-term finance options and strategic industry partnerships.
Read the full article here: https://theedgemalaysia.com/node/719988
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First published on The Edge Malaysia on 23 Jul 2024
