SC to launch social exchange by end of year (screen)

SC to launch social exchange by end of year (screen)

KUALA LUMPUR: The Securities Commission Malaysia (SC) is expected to launch the Social Exchange, the first of its kind in Asean, by the end of this year, with registration for the exchange slated for the first quarter of 2025, said its chairman Datuk Seri Awang Adek Hussin.

The Social Exchange is a dedicated fundraising platform for projects with positive social outcomes through the mobilisation of private and philanthropy capital in meeting the needs of the underprivileged.

Awang Adek said the SC will establish an advisory committee to speed up the implementation of the social exchange with proper governance and assurance in the framework.

“This (the framework) is to promote the raising of funds and more importantly to ensure the funds raised in the exchange will be used properly for their intended purpose,“ he said in a press conference on the sidelines of the Global Forum on Islamic Economics and Finance (GFIEF) at the Kuala Lumpur Convention Centre today.

Author:

Leave a Reply

Your email address will not be published. Required fields are marked *