Shariah screening assessment toolkit: For unlisted micro, small and medium enterprises. Documentation. The Secirities Commission Malaysia, Kuala Lumpur, Malaysia. (2021)
Abstract
The domestic capital market plays an important role in financing the Malaysian economy with the Islamic capital market contributing an average of more than 60% to the total capital market for the past five years. Acknowledging the importance of micro, small and medium enterprises (MSMEs) to the Malaysian economy, the Securities Commission Malaysia (SC) has facilitated the development of market-based crowdfunding platforms through the introduction of equity crowdfunding (ECF) and peer-to-peer financing (P2P financing) frameworks (Frameworks). The Frameworks allow businesses and entrepreneurs in this segment with innovative business ideas to raise funds through the capital market. Since the introduction of the Frameworks, the alternative fundraising avenues have continued to gain traction with total funds raised amounting to RM1.34 billion in 2020. As part of the ongoing efforts to enhance the ecosystem for Shariah-compliant fundraising activities through the ECF and P2P financing platforms, the SC introduces the Shariah Screening Assessment Toolkit for Unlisted Micro, Small and Medium Enterprises (Toolkit) as a guidance in screening the Shariah status of the MSMEs in the unlisted market. The Toolkit is intended to benefit the ECF and P2P financing platform operators, Shariah advisers, as well as any interested parties. The Toolkit includes a series of assessment questions that are based on the Shariah screening methodology for the MSMEs, which has been endorsed by the Shariah Advisory Council (SAC) of SC. In establishing the Toolkit, it is also envisaged that investors will have greater opportunity to diversify their investment universe via access to the Shariah-compliant unlisted market. This will also enable more diversified Shariah-compliant investment portfolios across asset classes and economic sectors.
| Item Type: | Monograph (Documentation) |
|---|---|
| Additional Information: | Disclaimer: This document does not claim to contain all advice or information on the subject matter, nor is it a substitute for legal or investment advice. If in doubt, you are strongly recommended to seek professional advice. The Securities Commission Malaysia (SC) does not involve in the assessment nor does it endorse the result of the assessment. Further, while care has been taken in the preparation of this Toolkit, the SC shall not be liable for any inaccuracy or incompleteness of the information contained herein. |
| Keywords: | equity crowdfunding, Shariah advisers, Shariah Advisory Council |
| Taxonomy: | By Niche > Islamic Banking > Banks and Banking > Religious Aspects By Niche > Islamic Banking > Banks and Banking > Security Measures |
| Local Content Hub: | Niche > Islamic Banking |
| Depositing User: | Rizana Mohd Radwan |
| Date Deposited: | 02 Jul 2024 04:00 |
| Last Modified: | 02 Jul 2024 04:14 |
| Related URLs: |
Actions (login required)
 |
View Item |