KUALA LUMPUR: Securities Commission Malaysia (SC) today announced six registered peer-to-peer (P2P) financing platform operators, making Malaysia the first Asean country to regulate P2P financing. The six registered operators are B2B FinPAL, Ethis Kapital, FundedByMe Malaysia, ManagePay Services, Modalku Ventures and Peoplender. These firms which are set to be operational in 2017 will help widen funding avenues for small and medium enterprises (SMEs). Back in 2015, the SC was also the first in Asean to put in place a regulated framework for equity crowd funding (ECF). Second Finance Minister Datuk Johari Abdul Ghani later told reporters that this crowd funding platform could also potentially be adopted by the government as it is proven to be more transparent.

Source: New Strait Times November 03, 2016 03:31 UTC