Investment Account Platform (IAP) signs MOC with the National Commission on Muslim Filipinos (NCMF) of the Republic of the Philippines

Kuala Lumpur: In conjunction with the Global Forum of Islamic Economics and Finance (GFIEF) 2024, IAP Ventures Sdn Bhd which owns and operates the Investment Account Platform (IAP) - iaplatform.com has signed a Memorandum of Cooperation with the National Commission on Muslim Filipinos (NCMF) of the Republic of the Philippines to explore collaboration to forward Islamic fundraising and investments in the Philippines.

Themed "Shaping a Resilient Global Islamic Economy through Values-based Reforms", GFIEF 2024 is organized by the Ministry of Finance and Bank Negara Malaysia (BNM) in collaboration with Securities Commission Malaysia, Labuan Financial Services Authority, the International Islamic Liquidity Management Corporation, the Islamic Development Bank, the Islamic Financial Services Board and the World Bank Group.

The Philippines is a nation of over 119 million people of which close to 11% of them adhere to Islam and are seeking halal finance and investment avenues. In order to better serve this market segment of over 13 million Muslim population, the NCMF Secretary Honorable Sabuddin N. Abdurahim who reports to the President of the Philippines Ferdinand "Bongbong" Romualdez Marcos Jr. expresses the NCMF's intention to explore the Malaysian experience through the IAP and see how best it can fit in the Philippines' landscape.

Joann Enriquez, Managing Director of IAP said that the Philippines together with other countries has shown keen interest in learning about the Investment Account (IA) and the technology platform that facilitates crowdfunding of retail, corporate and institutional investment into impactful real economic projects. The model is exportable and the best practices in Malaysia can be exported to various jurisdictions. This will be especially useful for economies where Islamic Finance legislation is not present or at its infancy.

IAP as a financial technology platform has raised and settled over RM211M in 14 projects with indicative profit returns of between 4.9 - 7.8% pa.

For Inquiries:
Corporate Services
Email Us