IslamicFinance.de

The Malaysian government plans to roll out a new sharia-compliant investment platform next year. The government is backing the Investment Account Platform (IAP) with an initial start-up fund of 150 million ringgit ($45 million), intending that the IAP will serve as a central marketplace to finance small and medium-sized businesses. Under the scheme, announced as part of the 2015 budget, Islamic banks would vet businesses seeking funds, provide a secondary market for investors and in some cases underwrite the equity transactions. With elements of crowd funding and microfinancing, the IAP is expected to raise the profile of Islamic banks as investment houses.