Funding Societies Launches Islamic Financing Solutions For MSMEs To Grow Their Businesses

Funding Societies has launched its comprehensive Islamic Financing product collection, a complete suite of Shariah-compliant financing solutions designed to meet the needs of creditworthy, underserved Malaysian micro, small and medium enterprises (MSMEs) seeking to grow their business.

These Islamic financing solutions include Business Term Financing-i, Micro Financing-i, and Invoice Financing-i. 

“Given Malaysia’s leadership in Islamic finance, it is timely for us to scale our Shariah-compliant proposition to support creditworthy Malaysian SMEs of all sizes to thrive,” said Wong Kah Meng, Group Chief Operating Officer of Funding Societies | Modalku and Co-founder of Funding Societies Malaysia.

Chai Kien Poon, Country Head of Funding Societies Malaysia said, “Following market feedback, we observed demand for Islamic finance and Muslim entrepreneurs’ need for Shariah-compliant financing.

Islamic finance is also appealing to non-Muslims given its emphasis on fairness and transparency in fees and charges. Besides that, the introduction of our Islamic Financing aligns with Malaysia’s aspirations to be the leader in Islamic finance as well as focus on the Islamic digital economy and FinTech.”

Interested SMEs can apply for these financing solutions online – seamlessly, anywhere and anytime. Through its simple and digital proposition, along with zero collateral requirements, Funding Societies can avail financing to MSMEs much quicker compared to traditional financial institutions.

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