SME Corp to disburse RM10 million to pandemic-stricken MSMEs via microLEAP

SME Corporation Malaysia (SME Corp) has appointed shariah-compliant peer-to-peer (P2P) financing platform microLEAP as the financial intermediary under its Digital Financing Initiative (DFI) pilot project. In a statement on Thursday, 23 December, microLEAP said the collaboration will see SME Corp disburse RM10 million worth of shariah-compliant financing to micro, small and medium enterprises (MSMEs) through a readily available, fully online platform that provides an array of shariah-compliant financing services. It said that although banks had introduced a variety of solutions to aid businesses, there is still more to be done to reach out to MSMEs that make up 98.5% of registered businesses in Malaysia.