MIDF Leveraging Islamic Finance To Drive Industrial Transformation
KUALA LUMPUR, June 4 (Bernama) -- The Malaysian Industrial Development Finance Bhd (MIDF) is leveraging Islamic finance to accelerate the country's industrial transformation, particularly in high-growth sectors such as advanced manufacturing, green technology, the digital economy, and halal industries.
Its vice president and head of marketing and business advisory, Fadzlan Abu Bakar said Islamic finance serves as a strategic enabler to support Malaysia's developmental goals under the New Industrial Master Plan (NIMP) 2030.
'We view Islamic finance not only as a funding tool but as a catalyst that supports ethical, inclusive, and sustainable industrial growth,' he said in a statement.
As a financial services provider, MIDF offers Shariah-compliant financing solutions that promote interest-free funding and equitable risk-sharing, benefitting especially small and medium enterprises (SMEs) seeking to scale operations and adopt new technologies.
Among its flagship programmes is the Halal Accreditation and Technology Improvement (HATI) scheme, which addresses two key challenges faced by SMEs — halal certification and technological enhancement.
"Through an RM100 million fund allocation, the scheme assists SMEs in sectors such as food and beverages, cosmetics, logistics, and pharmaceuticals in obtaining halal certification while upgrading their technological capabilities," it said.
It noted that this initiative was carried out in collaboration with the Halal Development Corporation (HDC), Department of Islamic Development Malaysia (JAKIM), and other strategic partners.
MIDF also plans to roll out more Shariah-compliant financing instruments over the next three to five years, tailored to SMEs and mid-sized firms while accelerating the digitalisation of Islamic finance delivery through fintech platforms.
To this end, Fadzlan said MIDF is working on expanding equity-based instruments like Musharakah and Mudarabah, and exploring peer-to-peer Islamic financing and blockchain-based platforms to improve transparency and accessibility.
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