Terry KS Bank Negara Malaysia and the MIFC Leadership Council have announced the winners of the MIFC Global Impact Challenge 2025, recognizing innovative Islamic finance solutions that promote social and climate resilience. The awards were presented by Malaysia’s Prime Minister, Dato’ Seri Anwar Ibrahim, at the Global Islamic Finance Forum 2025.
MALAYSIA, 13 OCTOBER 2025 – Bank Negara Malaysia (BNM) and the Malaysia International Islamic Financial Centre (MIFC) Leadership Council (MLC) have announced the winners of the MIFC Global Impact Challenge 2025 (MIFC GIC 2025), honoring outstanding innovations in Islamic finance that strengthen social and climate resilience.
The winners in the Social Resilience Track are e-Wakalah, Gobarakah, and Koha Islamic Digital, while Bagh-e was named the recipient under the Climate Resilience Track.
The awards were presented by the Prime Minister of Malaysia, YAB Dato’ Seri Anwar Ibrahim, at the Global Islamic Finance Forum (GIFF) 2025.
Each winner will receive cash prizes and comprehensive post-programme support for up to 12 months to further develop and scale their solutions. The post-programme support will be led by the Asia School of Business’ Innovation & Entrepreneurship Center (ASBhive), in collaboration with global partners.
Carrying the theme “Accelerating Innovation. Empowering Change,” MIFC GIC 2025 aims to catalyse innovative, impact-driven financial solutions in Islamic finance that enhance social resilience and address climate challenges.
Applications opened in July 2025, attracting over 50 entries from 10 countries. From these, 29 teams were shortlisted for the Accelerator Programme, which refined their business models and impact strategies. After completing the programme, 10 finalists were selected to pitch their solutions at the Demo Day.
BNM Governor Dato’ Sri Abdul Rasheed Ghaffour emphasized the need for continuous innovation in Islamic finance. He said that the MIFC GIC initiative is designed to nurture impactful Islamic finance solutions that promote sustainable growth and address global needs.
The initiative is supported by four global partners – the Islamic Finance Council UK, Hong Kong Trade Development Council, Islamic Development Bank, and the World Bank Group Inclusive Growth & Sustainable Finance Hub in Malaysia. Knowledge and accelerator support are provided by ASBhive, while the Fintech Association of Malaysia and the Association of Shariah Advisors in Islamic Finance Malaysia serve as ecosystem partners. Islamic Finance News and Fintech News Malaysia are the official media partners.
MLC Chairman Tan Sri Azman Mokhtar highlighted the importance of collaboration between international and domestic stakeholders, noting that collective action is key to advancing Islamic finance globally and driving inclusive economic progress.