The Association of Islamic Banking Institutions Malaysia (AIBIM) and Visa are partnering to launch the ASEAN Fintech Challenge.

The ASEAN Fintech Challenge will be held from the 10th-12th of May in Kuala Lumpur and aims to bring innovative fintech start-ups from the region together to pitch their business ideas to over 500 delegates from across the world.

The event will be held in conjunction with the Global Islamic Finance Forum (GIFF) – an event that AIBIM executive director, Yusry Yusoff, is calling a chance opening.

“GIFF presents a great opportunity for fintech start-ups to showcase their offerings for Islamic finance, which is rapidly gaining traction in Muslim-majority nations and international finance centres,” he said.

“The forum has attracted over 500 delegates, many of them in the Islamic finance industry, who will be able to partner with these start-ups to take their services to the next level.”

The ASIAN Fintech Challenge is open to residents of its ten member states; Thailand, Brunei, Laos, Malaysia, Indonesia, Myanmar, Vietnam, Cambodia, Singapore and the Philippines.

Seven teams from the entries will be selected for the semi-finals, with three going on to be shortlisted for the finals. Pitching sessions are open to the delegates, with the final decisions being made by a panel of experts and judges.