KUALA LUMPUR (Oct 22): A total of 21 Malaysian equity crowdfunding (ECF) and peer-to-peer (P2P) platforms registered with the Securities Commission Malaysia (SC) have raised RM587 million for some 1,600 micro, small and medium enterprises.

SC chairman Datuk Syed Zaid Albar (pictured) said today in his speech at the SCxSC Fintech Conference 2019 such platforms have raised RM587 million for companies in various industries.

"It should be noted that these platforms deploy financing to a diverse range of sectors, including high-tech, education, retail, F&B (food and beverage) and consumer products," he said.

He said the inclusion of the ECF and P2P platforms in the Malaysian capital market has attracted new investors, particularly those aged 35 and below.

On the SCxSC Fintech Conference 2019, Syed Zaid said this year's event will include Islamic fintech.

"We believe this remains a largely untapped segment in our current ecosystem, and I look forward for discussion on (whether) Malaysia's potential may be unlocked in this area," he said.