Winners

#MIFCImpactChallenge

Gobarakah is a fintech-for-good platform that redefines how social aid and charitable funds are delivered— securely, transparently, and inclusively. It transforms all funds—whether from individual donations, corporate CSR budgets, or zakat and wakalah allocations—into programmable e-vouchers that provide essential support such as food, groceries, education, medical aid, utilities, and even cash.

Gobarakah operates at the intersection of fintech and charitable innovation, addressing a critical pain point in a $1+ trillion global philanthropic market.

Using a closed-loop redemption system with authorized vendor partners, Gobarakah ensures that every ringgit reaches its intended beneficiary, even among the unbanked. These e-vouchers, accepted at major retailers including Lotus’s, Mydin, AEONBig, OUTPOST, cooperatives, and clinics nationwide, guarantee that aid is delivered with dignity, efficiency, and zero misuse.

The platform operates on a transparent model where 100% of donations reach beneficiaries. Its sustainability is driven by vendor transactional fees on voucher redemptions and administrative charges paid by corporate programme managers. Gobarakah’s central beneficiary database—developed in collaboration with nominating partners such as zakat institutions, NGOs, and trusted community partners—enables shared KYC vetting of the underserved, such as zakat-verified poor, PWDs, and documented refugees.

Since launch, Gobarakah has voucherized over RM1.5 million in donations, reaching 6,000 beneficiaries, with a pipeline of over RM10 million in conversion funds. It has served public donors, corporates such as Grab, NGOs and banks as Hong Leong Islamic Bank and SURI, and maintains partnerships with Yayasan Waqaf Malaysia, and other zakat and waqf affiliated bodies.

www.gobarakah.com

e-Wakalah is a blockchain-powered zakat fund distribution platform developed by Masverse. The solution addresses the need for a transparent, efficient, and Shariahcompliant mechanism for managing zakat funds.

Through e-Wakalah, zakat payers make their payments directly to the zakat-collecting authority. The payments are kept in a Trustee account. The authority then appoints Wakalah (agents) and issues blockchain-based credits that represent zakat funds to be distributed. These credits are allocated strictly to the eight categories of Asnaf as defined in the Qur’an. Smart contracts and blockchain records ensure that every transaction is traceable, tamperproof, and compliant with Shariah principles.

The system enhances transparency by providing donors with visibility on how and where their zakat is distributed, while beneficiaries receive digital confirmation of funds. This reduces administrative inefficiencies, improves trust between payers and institutions, and significantly shortens distribution times.

Beyond improving zakat distribution, the platform also supports institutional reporting and decision-making through real-time data and analytics. Its design makes it scalable across different zakat authorities and adaptable to other Islamic social finance instruments such as waqf, sadaqah, and infaq.

A proof of concept with Lembaga Zakat Selangor has validated the feasibility of the system, demonstrating how blockchain can strengthen governance in Islamic social finance. By combining technology with faith-based obligations, e-Wakalah contributes to greater economic empowerment, social sustainability, and accountability.

www.masverse.com

The intersection of demographic shift and digital transformation has created an unprecedented opportunity in Islamic finance. By 2030, the Great Wealth Transfer will accelerate across APAC, yet 85% of Malaysian Muslims lack proper estate planning, leaving nearly RM90 billion trapped in frozen assets—wealth that should be circulating through families, communities, and the Islamic economy.

Koha Islamic Digital captures this opportunity by delivering what the market demands: accessible, transparent, and comprehensive Shariah-compliant legacy planning. The platform serves 2 million Malaysian Muslim working adults within an immediate USD800 million market, positioned to expand across a USD12.7 billion regional opportunity spanning Malaysia, Indonesia, and Singapore.

The solution connects users with Koha Islamic Legacy Planners who guide them through creating Wasiat and structuring Hibah, while automated Faraid calculations ensure clarity and understanding. Every solution is Shariah-certified, building trust through credible Islamic authority. The venture is backed by a distinguished team of fintech, legal, and Shariah governance experts, including prominent figures from Malaysia’s judicial and Islamic finance leadership.

www.koha.digital

WINNERS OF THE CLIMATE RESILIENCE TRACK

What if we could give small-scale farmers in Pakistan access to the financing and agronomic support they desperately need so they never have to compromise on inputs and can finally achieve optimal yields?

These farmers won’t just increase their yields; they will also increase their incomes, unlocking access to better healthcare, better education for their children, and fueling stronger local economies.

Bagh-e operates at this intersection of financial inclusion and low farm yields. Through Bagh-e, farmers receive digital credit tied directly to their crop cycle, step-by-step agronomic advice, and at harvest, we aggregate and sell their produce at a better rate – sharing profits with the farmers. Therefore, our success is directly linked to the success of farmers.

And that’s not all—imagine scaling this model across millions of farmers in the Global South, transforming fragmented smallholdings into a powerful, sustainable economic engine that not only benefits farms but also entire communities and even national economies.

www.bagh-e.com

CO-ORGANISERS