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!
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
Createwills
Malaysia
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Description
Digital will, hibah and legal services for legacy planning
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
Auspice
India
Description
Social innovation for food – Food processing though empowerment of autistic persons
BangKIT Microfinance
Malaysia
Description
Blended finance programme comprising microfinancing and training for unbanked and underbanked microentrepreneurs
CoreHalal
Malaysia
Description
Halal Digital Platform – Halal management solutions for SMEs including halal certification
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
Orpheus
Malaysia
Description
Shariah-compliant financing for individuals and SMEs especially the underserved and unbankable communities
Pewarisan
Malaysia
Description
Islamic Inheritance Management -Online solution for Shariah compliant will writing and asset distribution
