© Nikkei Markets
KUALA LUMPUR (Nov 28) — The Securities Commission of Malaysia will announce in the first quarter of next year the regulatory framework for peer-to-peer home financing, its chairman said Wednesday.
“We’ve completed the first draft for the FundMyHome peer-to-peer, equity crowd financing platform,” Syed Zaid Albar told reporters. “We’ll engage with all the stakeholders.”
Earlier this month, while announcing the federal budget for 2019, the finance minister said private sector would be allowed to engage in peer-to-peer lending scheme, governed by the capital markets regulator, to help home buyers purchase properties through crowd funding mechanism.
– By Pei Ling Gan
– Edited By Abhrajit Gangopadhyay