Malaysia, 7th July 2018 - Ethis Ventures Sdn Bhd has launched the first version of GlobalSadaqah.com, an Islamic Charity Crowdfunding platform, on Saturday 7th July 2018.
The platform was launched together with its key partners including leading charities Mercy Malaysia, Islamic Relief Malaysia and the National Heart Institute (IJN) Foundation. Global Sadaqah had also partnered with 2 pioneers of Islamic Banking, the Islamic Development Bank Group (IsDB) and Bank Islam Malaysia Berhad.
With the launch of Global Sadaqah, Ethis Ventures is gearing up to be a full-fledged venture builder focused on Fintech solutions for Islamic Finance.
Ethis Ventures co-founder Umar Munshi said ‘We decided that the best way to start on our path to venture building is to focus on attracting Islamic economy institutions and stakeholders to collaborate with us and circulate good together. Within a few months of setting up, we started testing Global Sadaqah, then started pitching to strategic partners and managed to get a number of them on board.’
In the first quarter of the year, Global Sadaqah had successfully concluded a pilot with Bank Islam to raise funds and awareness for their social finance programme, Sadaqa House. Three campaigns to fund heart surgeries for children were funded in the pilot, with Bank Islam giving dollar-to-dollar matching donations to encourage the public to donate to the National Heart Institute (IJN) Foundation. Global Sadaqah is now focused on a pilot with the IsDB, running multiple campaigns to raise a targeted USD 1 million to provide additional funds for IsDB’s programmes to fight avoidable blindness in Africa and to uplift small farmers in Suriname.
Ethis Ventures Chairman Datuk Mohd Radzif Yunus said, ‘From my past experiences, there must be effective partnerships between the relevant stakeholders to reach and assist communities in need. For Global Sadaqah to increase the impact of Islamic charity, we must continue to forge strong long-term partnerships.’
Ethis Ventures is looking into integrating blockchain smart contracts into their platform, and plans to roll out the second version of Global Sadaqah in late 2018.
ABOUT ETHIS VENTURES SDN BHD (EVSB)
Established in late 2017, Ethis Ventures Sdn Bhd aims to uplift the ummah and humanity by creating new Islamic crowdfunding and fintech solutions for Islamic Finance. EVSB was started by the founders of EthisCrowd.com, the world’s first real estate Islamic crowdfunding platform based in Singapore, which functions as a marketplace bringing global crowdfunders and institutions to invest in social housingdevelopment projects in Indonesia.
EVSB is based on the venture builder model, where internal teams create new solutions and focus on its early traction. Solutions that show strong growth potential are then spun off as new startups within the group. The unique experiences and relationships of its founders and investors bode well for this strategy.
Ethis believes that Islamic Finance must embrace fintech for it to have wider reach and greater impact, especially in serving the lower strata of society. Ethis Ventures is headquartered in Malaysia with a team of 20 passionate young talents from diverse backgrounds, united in their pursuit to circulate good.
Wan Shamilah Wan Mohammed
T: +6019 217 0172
Nur Diana Melissa
T: +6017 672 7304