Shoraka Digital Ventures and Yayasan Hijrah Selangor Ink Strategic Collaboration Deal

Shoraka Digital Ventures (SDV) through its subsidiary, Shoraka Global Resources Sdn Bhd (SGR), has inked a strategic collaboration with Yayasan Hijrah Selangor to facilitate the migration of the foundation’s conventional financial offerings to Shariah-compliant ones.

The strategic collaboration will enable recipients of the microcredit to get access to financing in a Shariah-compliant manner. The majority of microcredit recipients are of the unbankable B40 group. Currently, only the bankable groups get access in financing.

This collaboration is an important milestone for the group, as it is in line with the Group’s aspiration to facilitate the expansion of Islamic financial offerings to all segments of the society, including those that are un-bankable, Managing Director of SDV Johar Amat said.

I foresee a successful partnership between our two parties that will accelerate the digitalisation of the Islamic financial technology solutions for the people of Selangor and look forward to further collaborations with Yayasan Hijrah Selangor in the area of digital technology,” Johar further added.

Yayasan Hijrah Selangor is an initiative of the Selangor State Government to expand the middle class in the state of Selangor through the implementation of an efficient additional capital distribution system for small traders. One of its objectives is to provide micro-credit loans to small entrepreneurs in Selangor for the implementation of programs to help small entrepreneurs grow their businesses and increase capital.

Source: Business Today