Latest news with #KWAP
Malay Mail
26-05-2025
- Business
- Malay Mail
Malaysia eyes role as Islamic crypto capital with KWAP's strategic stake in Fasset
KUALA LUMPUR, May 26 — On the eve of the Asean-GCC Summit, Malaysia has signalled its ambition to become the world's Islamic crypto capital, with a strategic investment in Dubai-based Islamic digital bank Fasset in the works. Kumpulan Wang Persaraan (Diperbadankan) [KWAP], Malaysia's largest public sector pension fund, is in advanced talks to invest between US$12 million and US$15 million in Fasset. The collaboration aims to place Malaysia at the forefront of ethical digital finance and frontier technology. Fasset, the world's first Islamic digital bank powered by blockchain and AI, is expected to relocate its Asia-Pacific headquarters to Kuala Lumpur as part of the proposed partnership. The firm also plans to establish a Centre of Excellence for Islamic digital assets in the Malaysian capital, to boost the country's ambitions to lead in Shariah-compliant blockchain, tokenisation, and inclusive financial infrastructure. The investment underscores growing institutional interest in high-impact, Shariah-aligned innovation platforms with regional potential. It aligns with KWAP's strategy to explore private capital markets, particularly in digital finance and Islamic-compliant investments. 'This collaboration aligns with KWAP's strategy to support the development of cutting-edge and emerging technologies, while leveraging Malaysia's solid position as a global Islamic finance hub,' said Hazman Hilmi Sallahuddin, Chief Investment Officer of KWAP. Fasset CEO and co-founder Mohammad Raafi Hossain said the partnership with KWAP reflects a shared long-term vision for ethical and inclusive finance. 'Together with KWAP, we are building more than just infrastructure — we are building trust, opportunity, and a stronger financial system for the world,' he said. Malaysia's move comes as the country intensifies its push to lead in Islamic fintech and digital infrastructure. Prime Minister Datuk Seri Anwar Ibrahim recently pledged RM100 million towards Islamic finance innovation under the Halal Industry Master Plan 2030, underscoring the government's commitment to digital transformation and Shariah-compliant financial leadership. The collaboration also supports the broader national agenda to attract global technology firms with transformative visions, positioning Malaysia as a hub for sustainable digital finance across the Asean region.
Barnama
16-05-2025
- General
- Barnama
KWAP Extends Community Outreach With Santuni MADANI Programme In Kampung Kandis
BACHOK, May 16 (Bernama) -- Kampung Kandis here has been selected for the 'Satu Pemimpin, Satu Kampung' (Santuni MADANI) programme by the Retirement Fund Inc (KWAP), based on its social development needs and potential to empower rural communities through multi-stakeholder collaboration. Kampung Kandis is one of eight villages in Mukim Kandis, which has a total population of about 4,000 residents. Among the initial initiatives carried out under the programme was the handover of a hearse for the use of local residents, as well as the distribution of 100 MyPesara Prihatin packs containing basic necessities to government retirees, the asnaf, and the underprivileged. The hearse was donated through wakalah zakat (tithe) funds, contributed via income tithe payments by KWAP employees to the Federal Territories Islamic Religious Council's Zakat Collection Centre (PPZ-MAIWP). The programme drew more than 500 local residents and featured various activities involving KWAP staff, fostering community spirit, unity and a sense of togetherness. KWAP chief executive officer Datuk Hajah Nik Amlizan Mohamed said that, in addition to social assistance, the agency planned to continue implementing the programme in stages throughout the year, involving strategic collaboration with various parties, including the Kelantan State Education Department, Bachok District Education Office, Universiti Malaysia Kelantan, non-governmental organisations and pensioner associations. 'KWAP views social responsibility as a long-term investment in national development. Such initiatives not only benefit the local community but also strengthen ties between organisations like us and the people, in support of the Malaysia MADANI spirit,' she said. Nik Amlizan also expressed appreciation for the support and cooperation of the village head and school headmasters in the Bachok district, whom she described as key drivers of the programme's success. 'It is hoped that more parties will join in such efforts for mutual benefit,' she said.
