{"id":57619,"date":"2023-08-07T12:56:01","date_gmt":"2023-08-07T04:56:01","guid":{"rendered":"https:\/\/www.imoney.my\/articles\/?p=57619"},"modified":"2023-08-07T12:56:01","modified_gmt":"2023-08-07T04:56:01","slug":"funding-societies-signs-mou-with-cgc-digital","status":"publish","type":"post","link":"https:\/\/www.imoney.my\/articles\/funding-societies-signs-mou-with-cgc-digital","title":{"rendered":"Funding Societies, CGC Digital To Develop Shariah-Compliant Financing Solution"},"content":{"rendered":"

Funding Societies<\/a>, one of the largest unified SME digital finance platforms in Malaysia, has partnered with CGC Digital, the FinTech subsidiary of Credit Guarantee Corporation Malaysia Berhad (CGC).<\/p>\n

This partnership aims to provide digital credit guarantee through a Shariah-compliant digital supply chain financing<\/strong> (DSCF) solution.<\/p>\n

<\/span>Cater to financing needs of local micro, SME<\/span><\/h2>\n

It will also better address the financing needs of Malaysian micro and small enterprises who are also the most underserved segments<\/p>\n

Both parties signed a Memorandum of Understanding (MoU) that showcase their commitment to collaborate on a Proof of Concept (POC) project and innovate products that could enable wider financing access for underserved and unserved MSMEs.<\/p>\n

The partnership will see CGC Digital developing a new digital credit guarantee product for CGC. It will offer financing up to RM4 million as a start, benefiting up to 100 creditworthy micro and small enterprises.<\/p>\n

<\/span>Industry-leading DSCF solutions<\/span><\/h2>\n

This will be offered via Funding Societies\u2019 industry-leading DSCF solutions, leveraging alternative data for MSMEs\u2019 credit risk assessment<\/p>\n

\u201cFollowing our entry into the SME Portfolio guarantee program of CGC in April this year, we are fortifying this collaboration with CGC Digital.<\/p>\n

“The digital-first approach leverages alternative data, enabling MSMEs with broader and more affordable access of MSMEs to digital guarantee and transformative financing. CGC Digital\u2019s innovation of CGC\u2019s credit guarantee would mitigate risk for investors and reduce cost of financing for MSMEs.\u201d states Wong Kah Meng<\/strong>, Group Chief Operating Officer of Funding Societies.<\/p>\n

Yushida Husin<\/strong>, Chief Executive Officer of CGC Digital said, \u201cCGC Digital broke new ground in this collaboration with Funding Societies. This MoU signifies our mutual dedication to fostering innovation and co-creating value with MSMEs.<\/p>\n

“CGC Digital seeks to provide MSMEs with a one-stop digital marketplace for better access to finance and more targeted assistance to scale up. Given this, we are committed to collaborating with like-minded strategic partners in the digital ecosystem to accelerate financial inclusion of MSMEs in Malaysia.\u201d<\/p>\n

Are you an MSME in need of Shariah-based financing? Head over here<\/a> to grow your business with collateral-free and fast approval financing.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

CGC Digital and Funding Societies aims to empower MSMEs <\/p>\n","protected":false},"author":47,"featured_media":57620,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1,347,216],"tags":[1206,1207,717,924,997,1064,1208],"class_list":["post-57619","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-islamic-finance","category-news-updates","tag-cgc-digital","tag-digital-financing","tag-entrepreneurship","tag-funding-societies","tag-islamic-financing","tag-islamic-investments","tag-msme"],"acf":[],"yoast_head":"\nFunding Societies Signs MoU With CGC Digital<\/title>\n<meta name=\"description\" content=\"Funding Societies partners with CGC Digital to help empower more MSMEs in Malaysia with Shariah-compliant digital financing services.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.imoney.my\/articles\/funding-societies-signs-mou-with-cgc-digital\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Funding Societies, CGC Digital To Develop Shariah-Compliant Financing Solution\" \/>\n<meta property=\"og:description\" content=\"Funding Societies partners with CGC Digital to help empower more MSMEs in Malaysia with Shariah-compliant digital financing services.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.imoney.my\/articles\/funding-societies-signs-mou-with-cgc-digital\" \/>\n<meta property=\"og:site_name\" content=\"iMoney Malaysia\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-07T04:56:01+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.imoney.my\/articles\/wp-content\/uploads\/2023\/08\/07094744\/Funding-Societies-x-CGC-Digital-MoU-Signing-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"624\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Azreen Azmi\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Azreen Azmi\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.imoney.my\/articles\/funding-societies-signs-mou-with-cgc-digital\",\"url\":\"https:\/\/www.imoney.my\/articles\/funding-societies-signs-mou-with-cgc-digital\",\"name\":\"Funding Societies Signs MoU With CGC Digital\",\"isPartOf\":{\"@id\":\"https:\/\/www.imoney.my\/articles\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.imoney.my\/articles\/funding-societies-signs-mou-with-cgc-digital#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.imoney.my\/articles\/funding-societies-signs-mou-with-cgc-digital#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.imoney.my\/articles\/wp-content\/uploads\/2023\/08\/07094744\/Funding-Societies-x-CGC-Digital-MoU-Signing-1.jpg\",\"datePublished\":\"2023-08-07T04:56:01+00:00\",\"author\":{\"@id\":\"https:\/\/www.imoney.my\/articles\/#\/schema\/person\/8c957dfb12fe1ffcc0e443b7cc382349\"},\"description\":\"Funding Societies partners with CGC Digital to help empower more MSMEs in Malaysia with Shariah-compliant digital financing services.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.imoney.my\/articles\/funding-societies-signs-mou-with-cgc-digital#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.imoney.my\/articles\/funding-societies-signs-mou-with-cgc-digital\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.imoney.my\/articles\/funding-societies-signs-mou-with-cgc-digital#primaryimage\",\"url\":\"https:\/\/static.imoney.my\/articles\/wp-content\/uploads\/2023\/08\/07094744\/Funding-Societies-x-CGC-Digital-MoU-Signing-1.jpg\",\"contentUrl\":\"https:\/\/static.imoney.my\/articles\/wp-content\/uploads\/2023\/08\/07094744\/Funding-Societies-x-CGC-Digital-MoU-Signing-1.jpg\",\"width\":1200,\"height\":624},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.imoney.my\/articles\/funding-societies-signs-mou-with-cgc-digital#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.imoney.my\/articles\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Investment\",\"item\":\"https:\/\/www.imoney.my\/articles\/category\/investment\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Funding Societies, CGC Digital To Develop Shariah-Compliant Financing Solution\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.imoney.my\/articles\/#website\",\"url\":\"https:\/\/www.imoney.my\/articles\/\",\"name\":\"iMoney Malaysia\",\"description\":\"Everything you need to know about improving your personal finances.\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.imoney.my\/articles\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.imoney.my\/articles\/#\/schema\/person\/8c957dfb12fe1ffcc0e443b7cc382349\",\"name\":\"Azreen Azmi\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.imoney.my\/articles\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/91059f5b3d015965253e14a33b1f6a745f5155f822ae4b704abc9b1221a9765c?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/91059f5b3d015965253e14a33b1f6a745f5155f822ae4b704abc9b1221a9765c?s=96&d=mm&r=g\",\"caption\":\"Azreen Azmi\"},\"description\":\"Azreen Azmi is a writer with a penchant for writing about content marketing and technology. From YouTube to Twitch, he tries to keep in touch with the latest in content creation and finding out the best way to market your brand.\",\"url\":\"https:\/\/www.imoney.my\/articles\/author\/azreen-azmi\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Funding Societies Signs MoU With CGC Digital","description":"Funding Societies partners with CGC Digital to help empower more MSMEs in Malaysia with Shariah-compliant digital financing services.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.imoney.my\/articles\/funding-societies-signs-mou-with-cgc-digital","og_locale":"en_US","og_type":"article","og_title":"Funding Societies, CGC Digital To Develop Shariah-Compliant Financing Solution","og_description":"Funding Societies partners with CGC Digital to help empower more MSMEs in Malaysia with Shariah-compliant digital financing services.","og_url":"https:\/\/www.imoney.my\/articles\/funding-societies-signs-mou-with-cgc-digital","og_site_name":"iMoney Malaysia","article_published_time":"2023-08-07T04:56:01+00:00","og_image":[{"width":1200,"height":624,"url":"https:\/\/static.imoney.my\/articles\/wp-content\/uploads\/2023\/08\/07094744\/Funding-Societies-x-CGC-Digital-MoU-Signing-1.jpg","type":"image\/jpeg"}],"author":"Azreen Azmi","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Azreen Azmi","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.imoney.my\/articles\/funding-societies-signs-mou-with-cgc-digital","url":"https:\/\/www.imoney.my\/articles\/funding-societies-signs-mou-with-cgc-digital","name":"Funding Societies Signs MoU With CGC Digital","isPartOf":{"@id":"https:\/\/www.imoney.my\/articles\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.imoney.my\/articles\/funding-societies-signs-mou-with-cgc-digital#primaryimage"},"image":{"@id":"https:\/\/www.imoney.my\/articles\/funding-societies-signs-mou-with-cgc-digital#primaryimage"},"thumbnailUrl":"https:\/\/static.imoney.my\/articles\/wp-content\/uploads\/2023\/08\/07094744\/Funding-Societies-x-CGC-Digital-MoU-Signing-1.jpg","datePublished":"2023-08-07T04:56:01+00:00","author":{"@id":"https:\/\/www.imoney.my\/articles\/#\/schema\/person\/8c957dfb12fe1ffcc0e443b7cc382349"},"description":"Funding Societies partners with CGC Digital to help empower more MSMEs in Malaysia with Shariah-compliant digital financing services.","breadcrumb":{"@id":"https:\/\/www.imoney.my\/articles\/funding-societies-signs-mou-with-cgc-digital#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.imoney.my\/articles\/funding-societies-signs-mou-with-cgc-digital"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.imoney.my\/articles\/funding-societies-signs-mou-with-cgc-digital#primaryimage","url":"https:\/\/static.imoney.my\/articles\/wp-content\/uploads\/2023\/08\/07094744\/Funding-Societies-x-CGC-Digital-MoU-Signing-1.jpg","contentUrl":"https:\/\/static.imoney.my\/articles\/wp-content\/uploads\/2023\/08\/07094744\/Funding-Societies-x-CGC-Digital-MoU-Signing-1.jpg","width":1200,"height":624},{"@type":"BreadcrumbList","@id":"https:\/\/www.imoney.my\/articles\/funding-societies-signs-mou-with-cgc-digital#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.imoney.my\/articles\/"},{"@type":"ListItem","position":2,"name":"Investment","item":"https:\/\/www.imoney.my\/articles\/category\/investment"},{"@type":"ListItem","position":3,"name":"Funding Societies, CGC Digital To Develop Shariah-Compliant Financing Solution"}]},{"@type":"WebSite","@id":"https:\/\/www.imoney.my\/articles\/#website","url":"https:\/\/www.imoney.my\/articles\/","name":"iMoney Malaysia","description":"Everything you need to know about improving your personal finances.","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.imoney.my\/articles\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.imoney.my\/articles\/#\/schema\/person\/8c957dfb12fe1ffcc0e443b7cc382349","name":"Azreen Azmi","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.imoney.my\/articles\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/91059f5b3d015965253e14a33b1f6a745f5155f822ae4b704abc9b1221a9765c?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/91059f5b3d015965253e14a33b1f6a745f5155f822ae4b704abc9b1221a9765c?s=96&d=mm&r=g","caption":"Azreen Azmi"},"description":"Azreen Azmi is a writer with a penchant for writing about content marketing and technology. From YouTube to Twitch, he tries to keep in touch with the latest in content creation and finding out the best way to market your brand.","url":"https:\/\/www.imoney.my\/articles\/author\/azreen-azmi"}]}},"_links":{"self":[{"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/posts\/57619","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/users\/47"}],"replies":[{"embeddable":true,"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/comments?post=57619"}],"version-history":[{"count":4,"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/posts\/57619\/revisions"}],"predecessor-version":[{"id":57630,"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/posts\/57619\/revisions\/57630"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/media\/57620"}],"wp:attachment":[{"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/media?parent=57619"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/categories?post=57619"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/tags?post=57619"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}