{
  "id": 353668,
  "title": "Malaysia can emerge as a global pioneer in Syariah-compliant digital finance",
  "url": "https://urgent.news/2026/08/09/malaysia-can-emerge-as-a-global-pioneer-in-syariah-compliant-digital",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-09T07:19:07.000Z",
  "source": {
    "name": "New Straits Times",
    "slug": "new-straits-times",
    "url": "https://www.nst.com.my/business/corporate/2026/08/1507517/malaysia-can-emerge-global-pioneer-syariah-compliant-digital"
  },
  "original_language": "en",
  "account": "KUALA LUMPUR: Malaysia possesses the necessary elements to become a global leader in Syariah-compliant digital finance, according to Nirbhay Handa, CEO of Singapore-based startup Multipolitan. Handa believes Kuala Lumpur should establish its unique position in the digital asset ecosystem by leveraging Malaysia's established Islamic finance sector instead of competing with international financial hubs. He advises Malaysia to concentrate on attracting institutional participation in the digital asset ecosystem, rather than depending solely on retail investors. The country has the potential to lead in Syariah-compliant digital finance due to the presence of certified digital assets, specialized exchange accounts, asset-backed tokens, crypto mutual funds, and non-interest staking protocols. These products adhere to Islamic finance principles by avoiding interest, excessive speculation, high uncertainty, and involvement in prohibited industries. Multipolitan, founded in 2024 by unicorn tech entrepreneurs, provides a global migration and international mobility platform that aims to modernize the complex immigration industry. Handa also highlights Malaysia's strategic location, access to skilled talent, and competitive operating costs, making it an attractive location for regional operations.",
  "summary": "Malaysia has the potential to become a global pioneer in Syariah-compliant digital finance, according to Nirbhay Handa, CEO of Singapore-based start-up Multipolitan. The country's established Islamic finance ecosystem, coupled with blockchain innovation, could enable Malaysia to develop the world's first Syariah-compliant products within crypto banks. Handa emphasized that Malaysia should focus on building greater institutional participation in the digital asset ecosystem rather than relying on retail investors, as the latter tend to be more speculative and vulnerable to market downturns.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}