Frequently Asked Questions (FAQ)

The MIFC Global Impact Challenge 2025 aims to spur innovative solutions in Islamic finance and encourage investments in fintech and impact-driven startups, supporting the broader vision of advancing ethical and value-based finance, aligned with the United Nations Sustainable Development Goals.

The theme is – Strengthening Financial and Social Resilience for a Sustainable Future through Shariah-Aligned Solutions

Kindly refer to Section B: Eligibility Criteria and Section D: Evaluation Criteria of the MIFC Global Impact Challenge 2025 Participation Handbook

No, the application is also open to teams of individuals and registered companies. A company incorporated and registered with the relevant authority in its home jurisdiction. There is no restriction on the company’s geographical location.

No, while your application does not need to be based in Malaysia, it would be useful to consider plans to deploy your solution in Malaysia.

The Application Form is available on the official website. Kindly refer to Section F: How to Enter of the MIFC Global Impact Challenge 2025 Participation Handbook for further details.

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.

No, solutions do not need to be technology-driven. We welcome solutions that can positively and tangibly impact the economic and social resilience of financially impacted communities such as the self-employed, women and young adults. Kindly refer to Section B: Eligibility Criteria of the MIFC Global Impact Challenge 2025 Participation Handbook.

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

i. Inventiveness;
ii. Impact;
iii. Commercial Viability; and
iv. Scalability.

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

Shortlisted applicants will participate in a 4-week hybrid accelerator programme with dedicated support and capability training from expert coaches to assist in the refinement of the proposals. The programme is an important part of the innovation journey designed to assist applicants to develop commercially-viable solutions that serve end users.

Shortlisted applicants are expected to arrange their own transportation and accommodation if decided to attend the accelerator programme physically, which will be held at Asia School of Business, Malaysia. It is recommended that shortlisted applicants to join the accelerator programme physically.

Participation in the accelerator programme is open to all shortlisted applicants.

31 July 2025, 11.59pm Malaysian time (GMT+8).

Winner(s) will be chosen from among the shortlisted applicants by a panel of judges comprising eminent individuals, academicians, finance practitioners and financial sector regulators, alongside multilateral development banks and representatives of the Organisers.

Up to 30 teams will be selected to attend the hybrid accelerator programme and conduct on-the ground testing. From this, up to ten (10) teams will be selected to pitch at the demo-day to the panel of judges. Eventually, up to two (2) winners will be chosen for each challenge track.

Yes, there will be a hybrid structured pitch coaching and demo-day preparation for the shortlisted applicants to help prepare for the final pitching. The preparation session will be conducted within two weeks prior to the demo-day.

The Organisers reserve the right to disqualify your participation in the competition if you are unable to attend and complete the final pitching during GIFF 2025.

Winner(s) will be announced and invited to receive the prize during the award ceremony at the Global Islamic Finance Forum in October 2025, a day after demo-day (dates to be determined).

The MIFC Global Impact Challenge Secretariat will make the necessary arrangements to ensure that you receive the prize.

No, however, the winner(s) are expected to provide regular check-ins with ASBhive (on behalf of the Organisers) for up to 12-month 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.