The Malaysian government is reportedly planning to launch a new Shariah-compliant investment platform in 2015 to finance small and medium-sized businesses.
Dubbed as Investment Account Platform (IAP), the new platform aims to expand the traditional role of Islamic banks from credit provider to investment intermediary, reported Reuters.
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Backed by an initial start-up fund of RM150m, the platform will complement the existing credit intermediation activities of Islamic banks while adding momentum to the private equity and venture capital industries.
As part of the scheme, Islamic banks would investigate businesses seeking funds, provide a secondary market for investors and also underwrite the equity transactions.
The publication said that the platform may also attract international investors, as the government has placed no restrictions on inflows of foreign capital into the IAP.
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