Bank Negara Malaysia (BNM) and the Malaysia International Islamic Financial Centre (MIFC) Leadership Council (MLC) have announced the winners of the MIFC Global Impact Challenge 2025 (MIFC GIC 2025), recognising leading innovators in Islamic finance for their contributions to social resilience and climate
sustainability.
Under the Social Resilience track, the winning solutions were e-Wakalah, Gobarakah, and Koha Islamic Digital, while Bagh-e emerged as the top innovator in the Climate Resilience category.
The awards were presented by Prime Minister Datuk Seri Anwar Ibrahim at the Global Islamic Finance Forum (GIFF) 2025 in Kuala Lumpur.
Winners will receive cash prizes and up to 12 months of post-programme support from the ASBhive Innovation & Entrepreneurship Center of the Asia School of Business and global partners to help them scale their impact-driven solutions.
Themed “Accelerating Innovation. Empowering Change.”, the challenge seeks to catalyse Islamic finance innovations that strengthen social safety nets and address environmental challenges through sustainable financial mechanisms.
This year’s edition attracted over 50 applications from 10 countries, with 29 teams entering the accelerator phase and 10 finalists pitching their solutions during the Demo Day.
MADANI Values at the Heart of Islamic Finance Innovation
In his keynote, Prime Minister Anwar Ibrahim emphasised that Malaysia must lead the alignment of Islamic finance innovation with values of justice, equity, and good governance, which form the foundation of the MADANI Economic Framework.
He also noted that Malaysia issued RM 20 billion in Sustainable and Responsible Investment (SRI) sukuk in 2024, highlighting the nation’s commitment to mobilising capital for social and green impact.
Meanwhile, BNM Governor Dato’ Sri Abdul Rasheed Ghaffour underscored the importance
of continuous innovation in expanding Islamic finance’s transformative potential.
“Through MIFC GIC, we aim to nurture innovations that scale up impactful Islamic finance products and services. We invite all stakeholders to explore these new solutions to drive sustainable growth and meet global needs,” he said.
Global Collaboration Strengthens Malaysia’s Islamic Finance Ecosystem
The MIFC GIC is supported by four international partners — the Islamic Finance Council UK, the Hong Kong Trade Development Council, the Islamic Development Bank (IsDB), and the World Bank Group’s Inclusive Growth & Sustainable Finance Hub Malaysia.
ASBhive acts as the knowledge partner and accelerator provider, while the Fintech Association of Malaysia and the Association of Shariah Advisors in Islamic Finance Malaysia serve as key ecosystem partners.
The media partners for this year’s challenge are Islamic Finance News and Fintech News Malaysia, both playing a pivotal role in amplifying Malaysia’s success stories in Islamic fintech and social innovation.
The MIFC GIC 2025 marks another milestone in Malaysia’s mission to not only be a global hub for Islamic finance, but also a driving force in technology-driven, socially responsible, and environmentally sustainable financial innovation.
Source: Fintech News.
