RECOGNISING INNOVATIVE SOLUTIONS

The inaugural cycle recognises digital and innovative solutions based on Islamic finance principles or enablers, that aim to improve the economic and social resilience of financially impacted communities worldwide.
A total of 50 applications were received from 14 countries. At the final round of presentations to a panel of judges, comprising senior representatives from Bank Negara Malaysia, Securities Commission Malaysia, Islamic Development Bank, World Bank Group, and the venture capital industry, 2 teams were selected as winners, each winning a cash prize, a prominent listing on the Royal Award for Islamic Finance website, and the opportunity to showcase solutions during the prize ceremony at the Global Islamic Finance Forum 2022.
Congratulations to duithape and pod!
We also celebrate the achievements of the finalists and semi-finalists. A big shout-out to all teams!

WINNERS

Duithape

Indonesia

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Description
Bio-metric based cashless payment system for disbursement of Shariah-compliant microloans for micro and SME borrowers

Pod

Malaysia

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Description
Digital platform that provides gig workers with access to financial products including Shariah microfinancing and facilitates alternative credit scoring

TOP 25

Createwills

Malaysia

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Description
Digital will, hibah and legal services for legacy planning

Ethis Malaysia

Malaysia

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Description
Shariah-compliant equity crowdfunding

GFI

Malaysia

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Description
Alternative credit risk assessment system applying AI algorithms and deep learning

Kapitani

Malaysia

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Description
Transactional record keeping app for farmers including credit scoring and crop marketplace

MADCash

Malaysia

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Description
Shariah-compliant microfinance ecosystem for underbanked women entrepreneurs

microLEAP

Malaysia

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Description
Shariah compliant P2P financing platform for Micro, Small and Medium Enterprises

MesinKira

Malaysia

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Description
Mobile app offering end-to-end merchant solutions for micro businesses

uPledge

Netherlands

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Description
Crowdfunding (capital and donations) for businesses/organisations that pursue sustainable and impactful outcomes for society

Description
Alternative credit scoring for thin-file borrowers

Auspice

India

Description
Social innovation for food – Food processing though empowerment of autistic persons

Description
Blended finance programme comprising microfinancing and training for unbanked and underbanked microentrepreneurs

Capnovum

United Kingdom

Description
B2B compliance management platform (RegTech)

Cloudnosys

United States

Description
Cloud cyber security and compliance

Estet Sepakat

Malaysia

Description
Agriculture Technology-as-a-Service company that adopts machine technology and data services to improve the income of paddy farmers.

GlobalSadaqah

Malaysia

Description
A one-stop solution for Islamic Social Finance that provides a platform to the public, corporate companies, financial institutions and foundations for their charity needs

Koha

Malaysia

Description
Islamic digital legacy planning platform

SilkRoad

Malaysia

Description
Shariah-compliant SME digital financing solution platform

Orpheus

Malaysia

Description
Shariah-compliant financing for individuals and SMEs especially the underserved and unbankable communities

eHibah

Malaysia

Description
Online platform for Hibah service

Pewarisan

Malaysia

Description
Islamic Inheritance Management -Online solution for Shariah compliant will writing and asset distribution

VISICLOUD 

Indonesia

Description
Banking and financial technology provider for Islamic banks and financial institutions

Raiz 

Malaysia

Description
Micro-investing platform that allows customers to invest in unit trust funds from as low as RM5.00

CoreHalal

Malaysia

Description
Halal Digital Platform – Halal management solutions for SMEs including halal certification