microLEAP Gets Largest Share of TERAJU’s RM100 Million Fund for Bumiputera Businesses

TERAJU, the Unit Peneraju Agenda Bumiputera, has reportedly awarded the largest portion of its RM100 million fund to P2P financing platform microLEAP.

This allocation is part of the Islamic-Working Capital Project Financing Programme (i-WCPF), aimed at supporting Bumiputera businesses with Shariah-compliant financing.

The i-WCPF programme provides Islamic financing based on the Commodity Murabahah via Tawarruq principle.

It is designed to help Bumiputera enterprises in sectors such as renewable energy, technology, agriculture, electrical & electronics, agro-based, and rare earth industries.

With operations across Malaysia, including in Sabah, Sarawak, Johor, Penang, and Perak, microLEAP aims to make financing more accessible to Bumiputera entrepreneurs.

The platform offers financing up to RM1 million per transaction with 12-month terms and competitive profit rates.

Tunku Danny Nasaifuddin Mudzaffar, Founder and CEO of microLEAP, said,

“This funding marks a pivotal moment for us, as it allows us to truly deliver tangible impact to the Bumiputera community.

Our longstanding relationship with TERAJU has been instrumental in bringing this initiative to fruition, and together, we’re dedicated to empowering Bumiputera entrepreneurs with the resources they need to increase their participation in the local economy.”

“This financing is a testament to TERAJU’s dedication to enabling economic growth and inclusivity.

Through partnerships like this, we’re focused on delivering not just financial support but on cultivating a robust ecosystem where Bumiputera entrepreneurs can thrive and contribute meaningfully to Malaysia’s prosperity.”

Source: FintechNews.my