Bank Negara Malaysia (BNM) and Malaysia International Islamic Financial Center (MIFC) Leadership Council have teamed up to launch Global Impact Challenge 2025 to call for impact-driven financial solutions with propositions to strengthen social resilience and address climate challenges.

BNM said in a statement on last Friday that the MIFC Global Impact Challenge 2025 is now open for applications from around the world.

This aims to spur innovative solutions in Islamic finance and encourage investments in fintech and impact-driven startups.

According to the statement, the Challenge aspires to promote cross-border fertilization and innovation of ethical and value-based finance.

It is held in partnership with the global partners including the Hong Kong Trade Development Council, the Islamic Finance Council UK, the Islamic Development Bank, and the World Bank Group Inclusive Growth & Sustainable Finance Hub in Malaysia.

Asia School of Business’ Innovation & Entrepreneurship Center is the knowledge partner and accelerator program provider, while the Fintech Association of Malaysia is the ecosystem partner.

Shortlisted applicants will participate in the accelerator program designed to advance their impact-driven financial solutions that address social resilience and climate challenges.

The program is structured to help applicants improve the commercial viability of their solutions as well as strengthen their measurable impact.

Up to four winners will be selected on the demo day on October 12, 2025 and they will be announced at the Global Islamic Finance Forum 2025 on October 13, 2025 in Kuala Lumpur.

In addition to cash prizes, winners will receive a broad range of support from the partners for up to 12 months.

Malaysian Central Bank launches Digital Asset Innovation Hub