KUALA LUMPUR (Feb 12): LC Wakaful Digital Sdn Bhd (LCWD) will operate the country’s first Social Exchange Platform, aimed at providing a structured and transparent avenue for non-profit organisations to raise donations.
The Securities Commission Malaysia (SC) said it will closely assess market participation and viability of the platform — Impakrintas — and the overall market readiness before considering other platforms.
"The Social Exchange Platform will provide a structured and transparent avenue for non-profit organisations to raise donations for eligible social projects, while enabling donors to have greater visibility over fund utilisation and the impact of the projects," the regulator said in a statement on Thursday.
The Social Exchange is a key initiative under the new Capital Market Masterplan 2026-2030 (CMP), designed to broaden access to and market participation in social impact financing.
The platform provides a structured and transparent avenue for non-profit organisations to raise donations for eligible social projects, enabling donors to have greater visibility into how funds are used.
SC chairman Datuk Mohammad Faiz Azmi said: “We are providing a structured avenue for non-profit organisations to scale their impact while giving donors the transparency and confidence they need to participate in Malaysia’s sustainable development journey.”
The appointment of LCWD marks an important milestone in operationalising the Social Exchange, as it fulfils the prime minister’s May, 2024 announcement on the introduction of SC’s initiative and the successful implementation of the pilot programme by the SC in the first half of 2025.
The Guidelines on Social Exchange Platform and applications for registration as a Social Exchange Platform operator both commenced Sept 19, 2025.
This will be responsible for establishing and operating Malaysia’s first Social Exchange Platform, Impakrintas, as well as onboarding eligible non-profit organisations in accordance with the requirements set out in the guidelines.
With LCWD as the platform’s operator for the first year of phase 1, Impakrintas is scheduled to go live on Feb 19, 2026.
The LCWD will facilitate direct cash donations from donors to approved non-profit organisations.
In the subsequent phases, the scope of the Social Exchange will be further expanded for wider participation and broadened to include capital market instruments.
Upon Impakrintas’ go-live, six non-profit organisations are expected to be on boarded onto the platform with listings of wide-ranging social impact projects.
Donations made through the Social Exchange will be eligible for equivalent tax treatment under Subsection 44(6) and paragraph 13(1) of Schedule 6 of the Income Tax Act 1967, benefiting both non-profit organisations raising funds and donors supporting social impact projects listed on Impakrintas.