KUALA LUMPUR: The Securities Commission Malaysia (SC) has issued the Guidelines for Social Exchange Platforms, paving the way for the establishment of Malaysia’s first social exchange to facilitate fundraising for social impact projects.
In a statement today, the SC said the social exchange platforms will provide a transparent fundraising avenue for non-profit organisations (NPOs) to raise funds for eligible social impact projects, in line with Malaysia’s sustainability and inclusion agenda.
"The exchange would widen the role of the capital market to support fundraising for Malaysia’s third sector and instil trust in fundraising by NPOs.
"The guidelines, issued today, set out requirements for social exchange platform operators and NPOs, including eligibility, disclosure and mandatory reporting to assure donors on how the funds are utilised and the outcomes achieved," it said.
It added that applications to operate a social exchange are now open, starting today.
The guidelines are available at https://www.sc.com.my/regulation/guidelines/social-exchange-platforms.
Meanwhile, SC chairman Datuk Mohammad Faiz Azmi said the social exchange ensures transparency and accountability in fundraising towards social impact projects, in line with the priorities of the 13th Malaysia Plan.
He noted that this will strengthen public trust and mobilise more resources towards meaningful social impact. - Bernama
