SC appoints 6 to run peer-to-peer (P2P) financing platforms

SC chairman Tan Sri Ranjit Ajit Singh said the issuance of P2P licences is part of the regulator

KUALA LUMPUR: The Securities Commission (SC) has appointed six parties to run peer-to-peer (P2P) financing platforms, making Malaysia the first country in Asean to regulate this segment of financial technology (fintech), which in turn provides new funding sources for small and medium enterprises (SMEs).

The six, a mixture of local and foreign parties, are expected to be fully operational by next year.