PUTRAJAYA: Plan to establish the world's first Islamic venture capital fund is now in the final stage and will be launched at the right time, said Treasury Secretary-General, Tan Sri Irwan Serigar Abdullah. Irwan Serigar said Malaysia was also in talks with Indonesia to rope it to join the venture capital fund, which would have an initial fund size of US$100 million (US$1=RM4.12). He said even without Indonesia's participation, Malaysia would still go ahead with the proposed fund with IDB and Malaysia's largest venture capital company, Malaysia Venture Capital Management Bhd. Irwan Serigar said the fund would be used to finance start-up companies not only in Malaysia but also in the region and other Islamic countries. On the 11th ICIEF, Irwan Siregar said, it would bring together academicians and Islamic finance practitioners from 35 countries.

Source: New Strait Times September 15, 2016 09:30 UTC