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SC unveils digital-related initiatives to bolster capital market

The initiatives are aim at opening the alternative financing markets to new players to cater for the growing demands by MSMEs and MTCs

by SHAFIQQUL ALIFF / TMRpic

THE Securities Commission Malaysia (SC) have announced new digital-related initiatives to spur the growth of the capital market (CM) and help support the country’s economic recovery.

The commission said the initiatives will pave the way for further liberalisation of CM and allow micro, small, and medium enterprises (MSMEs) and mid-tier companies (MTCs) better access to funding to grow their businesses.

“Those initiatives also aim at opening the alternative financing markets to new players to cater for the growing demands by MSMEs and MTCs.

“Among the initiatives are registration of new equity crowdfunding and peer-to-peer (P2P) market operators with shariah solutions and value propositions, registration of new P2P operators focusing on the offering of debt-based financing instruments by MTCs and other larger companies, registration of new recognised market operators-digital asset exchange to facilitate regulated digital asset investments and the establishment of a RM30 million Digital Innovation Fund to encourage digitalisation of the capital market,” SC chairman Datuk Seri Dr Awang Adek Hussin said in a statement today.

Awang Adek highlighted that it is essential to support the post-pandemic recovery journey of MSMEs and MTCs in terms of their financing needs, as well as their continued innovation and growth potential because the group collectively contribute more than half of the country’s GDP and are integral to Malaysia’s future growth and economic sustainability.

“Digitalisation of the market is a key priority for SC so that market participants are able to adapt to digital trends and use technologies which will promote innovation with new business models and products/services including broadening access to market-based financing in a more efficient manner,” he said.

Interested parties are invited to engage with SC on applications for the digital platforms from tomorrow. The updated guidelines and forms will be made available from Nov 15, 2022.

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