RM100 Million Boost For Bumiputera Enterprises Through P2P Financing

In a landmark move, the Unit Peneraju Agenda Bumiputera (TERAJU) has allocated RM100 million across Malaysia’s leading peer-to-peer (P2P) financing platforms, with microLEAP receiving the largest share. This funding is part of the Islamic-Working Capital Project Financing Programme (i-WCPF), aimed at enhancing the Bumiputera economic landscape.

Tunku Danny Nasaifuddin Mudzaffar, Founder and CEO of microLEAP, remarked, “This funding marks a pivotal moment for us, as it allows us to truly deliver tangible impact to the Bumiputera community.” He emphasised the importance of their longstanding relationship with TERAJU in bringing this initiative to fruition.

The i-WCPF programme provides innovative Islamic financing solutions tailored for Bumiputera enterprises, including pre-invoice and post-invoice financing based on the Shariah principle of Commodity Murabahah via Tawarruq. The funds target high-growth sectors like Renewable Energy, Technology, Agriculture, and Rare Earth Industries, facilitating sustainable growth with competitive profit rates.

TERAJU CEO Junady Nawawi stated, “This financing is a testament to TERAJU’s dedication to enabling economic growth and inclusivity,” aligning with Malaysia’s Shared Prosperity Vision 2021-2030.

With financing available up to RM1 million per transaction and 12-month terms, microLEAP’s offerings are poised to transform access to financing for Bumiputera businesses, fostering a robust ecosystem for economic growth and inclusivity across Malaysia.

Source: Businesstoday.com