Frequently Asked Questions (FAQ)

#MIFCImpactChallenge

To be read together with the
MIFC Global Impact Challenge 2025 Participation Handbook

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What is the objective of the MIFC Global Impact Challenge 2025?

MIFC Global Impact Challenge 2025 calls for impact-driven solutions with propositions to strengthen social resilience and address climate challenges. This aims to spur innovative solutions in Islamic finance and encourage investments in fintech and impact-driven startups.

What type of solutions are you looking for? How can I know if my solution is a good fit?

Solutions should respond to the competition problem statements that address two (2) challenge tracks:

Advancing economic empowerment and social sustainability; and
Scaling Islamic Finance solutions for a climate-resilient future.

Solutions should also embed fundamental Shariah principles or enable wider application of and access to Islamic finance. For full details, please refer to Section B: Eligibility Criteria and Section D: Evaluation Criteria of the MIFC Global Impact Challenge 2025 Participation Handbook.

Who is eligible to participate in the MIFC Global Impact Challenge 2025?

MIFC Global Impact Challenge 2025 is open globally to any body corporate or unincorporated group of individuals or body corporates. Kindly refer to Section B: Eligibility Criteria of the MIFC Global Impact Challenge 2025 Participation Handbook.

Does my solution need to be based in Malaysia?

No, to apply, your application does not need to be based in Malaysia.

How do I submit my application for the MIFC Global Impact Challenge 2025?

You may submit your application through the official online form here. For further details, please refer to Section F: How to Enter in the MIFC Global Impact Challenge 2025 Participation Handbook.

Can I submit more than one (1) application?

You may submit multiple applications if the solutions are different products or services and meet Section B: Eligibility Criteria of the MIFC Global Impact Challenge 2025 Participation Handbook. However, only one (1) application will be shortlisted.

Does the solution need to be a technology-driven solution? Do I need to be a FinTech company to apply?

It is not limited to technology-driven solutions. We welcome any value-based finance innovation that embed fundamental Shariah principles or enable wider application of and access to Islamic finance. Kindly refer to Section B: Eligibility Criteria of the MIFC Global Impact Challenge 2025 Participation Handbook for further details.

What are the evaluation criteria?

Applicants will be evaluated based on four (4) primary criteria:

Innovation;
Impact;
Commercial Viability; and
Scalability

Kindly refer to Section D: Evaluation Criteria of the MIFC Global Impact Challenge 2025 Participation Handbook for further details.

When is the closing date for applications?

25 August 2025, 11.59 PM Malaysian time (GMT+8).

How will the accelerator programme be conducted?

Shortlisted applicants will participate in a hybrid-mode accelerator programme delivered by ASBhive, managed by the Innovation & Entrepreneurship Center at the Asia School of Business (https://asbhive.edu.my/). The programme is an important part of the innovation journey and offers dedicated support and capability training from expert coaches to help applicants improve commercial viability of their solutions as well as strengthen their measurable impact. Kindly note that all sessions will be conducted in Malaysian time (GMT+8).

What are the logistic arrangements to attend the accelerator programme physically?

Shortlisted applicants are expected to arrange their own transportation should they decide to attend the accelerator programme physically, which will be held at Asia School of Business, Malaysia. Onsite accommodation is available at own expense.

Is the accelerator programme applicable to all shortlisted applicants?

Participation in the accelerator programme is mandatory for all shortlisted applicants. Kindly refer to Section F: How to Enter of the MIFC Global Impact Challenge 2025 Participation Handbook.

Who will select the winner(s) for the MIFC Global Impact Challenge 2025?

Winner(s) will be chosen from among the finalists by a panel of judges.

How many winner(s) will be selected?

Up to thirty (30) applicants will be selected to attend the accelerator programme. From this, up to ten (10) teams will be selected to pitch at the Demo Day to the panel of judges. Finally, up to two (2) winners will be chosen for each challenge track.

Will there be a preparation session conducted for shortlisted applicants for the final pitching?

Yes, there will be a hybrid structured pitch coaching and Demo Day preparation for the finalists to help prepare for the final pitching.

If I am unable to attend the Demo Day, how can I do the final pitching?

The Organisers reserve the right to disqualify your participation in the competition if you are unable to attend and complete the final pitching in person at the Demo Day on 12 October 2025 during the Global Islamic Finance Forum 2025. Any changes to the date will be communicated to the finalists.

When will the winner(s) be announced?

Winner(s) will be announced and invited to receive the prize during the award ceremony at the Global Islamic Finance Forum on 13 October 2025. Any changes to the date will be communicated to the finalists.

Will the winner(s) be contracted to the Organisers after the competition?

No, however, the winner(s) are expected to provide regular check-ins with ASBhive (on behalf of the Organisers) for up to 12 months after the competition as specified by the Organisers. This is part of the post-programme support to help the winner(s) grow and scale their business.

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