Meet the finalists of the Islamic Finance Changemakers Challenge 2020:

The Islamic Finance Changemakers Challenge team, IsDB and SCIEF would like to thank all the participants in this Challenge.

We have received 90 projects from 25 countries. The vast majority with a great innovative elements.

The Jury deliberation work has been very challenging. We also want to express our gratitude to all of our jury members.

SCIEF and the IsDB presents 3 Islamic Finance startups from Malaysia and Saudi Arabia that won a ticket to the Grand Final.

–         HALNEX

Country: Malaysia

Equipped with over 16 years of industry experience in Halal, Quality Management, science and business development, we provide a revolutionary digitized platform to elevate the quality proficiency and skill, as well as business development for multidisciplinary fields of the Islamic Market in real time. We aim to boost the industry by leveraging on connecting people, industries, data, and process hence elevating their operations to a higher global standard.

–          MADCAT World

Country: Malaysia

MADCAT World is an Islamic Fintech building a Sharia compliant microfunding platform that will be able to track impact and related activities using mobile apps and web based application. MADCash enables unbanked and underbanked women entrepreneurs to get interest free loans as rolling capital to improve the economic status of their households with each pay back funding another entrepreneur. The target beneficiaries are creates an ecosystem of women growing, supporting and funding women.

–          THEMAR

Country: Saudi Arabia

THEMAR is a Sharia compliant peer to peer purchase financing network. Its simple platform connects small & micro business purchasers to investors through its online funding platform. THEMAR supports businesses with their local purchases. Our purchasers are small and micro enterprises that want to finance their purchases swiftly and efficiently. Our Investors are individuals or institutional investors that want to grow and diversify their investment portfolio while helping the local economy. Purchasers can easily access capital for their short-term business purchasing needs while investors can earn Sharia compliant return on their investment.