Malaysia’s leading P2P financing platform, microLEAP, has made waves once again by reaffirming its commitment to Islamic fintech and financial inclusion. With a notable mission to promote ethical, Shariah-compliant financing solutions, microLEAP is poised to expand the reach of Islamic finance far beyond the Klang Valley, with physical offices in Sabah, Sarawak, Johor, Perak, and Penang.
In response to Securities Commission Malaysia (SC) Chairman Datuk Mohammad Faiz Azmi’s recent call for collaboration in shaping the future of Islamic fintech, microLEAP is ready to answer the challenge. The SC emphasized the importance of leveraging the ethical principles of Maqasid al-Shariah to engage a broader audience and grow Islamic finance—a vision microLEAP is fully aligned with.
Shariah-Compliant Financing: A Strong and Growing Trend
The first half of 2024 has proven to be an impressive one for microLEAP, with 98.7% of its financing notes being Shariah-compliant. This achievement highlights the increasing demand for ethical financial solutions. During the first two quarters, microLEAP disbursed RM 46.56 million across 78 financing notes, showcasing the platform’s stronghold in Islamic finance.
Since its inception, microLEAP has disbursed over RM 175 million, reflecting both the growth of Islamic fintech and the platform’s dedication to providing inclusive and ethical financial solutions. According to the SC, Islamic equity crowdfunding (ECF) and P2P platforms have contributed 24% of total alternative funding in Malaysia in 2024, a sharp increase from 8% in 2022.
Collaboration Fuels Innovation in Islamic Fintech
As Malaysia’s Islamic fintech ecosystem matures, collaboration becomes crucial. microLEAP is currently working with key government bodies, including the Ministry of Entrepreneur Development and Cooperatives (KUSKOP), SME Corp, and the Malaysian Technology Development Corporation (MTDC), to further Islamic finance and expand financial inclusion.
“At microLEAP, we believe in taking bold steps toward a more inclusive and ethical financial ecosystem. By partnering with key government agencies and establishing a physical presence in several states, we are breaking barriers and expanding access to Islamic financing,” said Tunku Danny Nasaifuddin Mudzaffar, Founder and CEO of microLEAP.
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Lower Default Rates and Investor Confidence
microLEAP has also demonstrated strong financial discipline, with a reduction in default rates to just 0.77%, an impressive feat in the P2P financing space. The platform achieved an average return of 15.1% for investors in the first half of 2024, cementing its reputation as a reliable and profitable platform for investors seeking Shariah-compliant financing opportunities.
The company continues to focus on responsible risk management while delivering robust returns, reflecting its balance between innovation and market integrity.
Expanding Reach Beyond the Klang Valley
One of microLEAP’s key differentiators is its dedication to underserved areas. By expanding into Sabah, Sarawak, Johor, Perak, and Penang, microLEAP is making strides toward ensuring that all Malaysians can benefit from Islamic financing solutions.
“Collaboration is the cornerstone of progress, and together with our partners, we aim to shape a brighter future for Islamic fintech,” Tunku Danny continued.
As microLEAP continues to grow, the company remains steadfast in its belief that small steps can lead to significant impact. With its mission closely aligned with the SC’s initiatives, microLEAP is well-positioned to continue leading the charge in Islamic fintech innovation and financial inclusion.
About microLEAP
microLEAP is Malaysia’s premier P2P financing platform, regulated by the Securities Commission Malaysia (SC). The platform offers both Islamic and conventional financing solutions and is the first in the country to seamlessly integrate both options. With a physical presence outside the Klang Valley, microLEAP is committed to expanding Shariah-compliant financing to underserved regions in Malaysia. Learn more at www.microleapasia.com, available in both Bahasa Malaysia and English.
