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Initiative

Crowdfund on SocioBiz and qualify for SIM Grant 1:1 matching to assist your business

In partnership with

“The Social Impact Matching (SIM) Grant totaling RM10million, a PENJANA initiative, was introduced to support social enterprises and social innovation in Malaysia. For every ringgit earned through crowdfunding, SIM Grant will match that amount, in a 1:1 ratio.”

Alliance Islamic Bank’s SocioBiz* is one of the crowdfunding platforms endorsed by MaGIC for the SIM grant. 

We would like to support businesses with a clear social and/or environmental purpose by offering 0% platform fees for the first RM500,000 raised on SocioBiz. In addition, we will help you create your campaign page and boost your campaign via targeted digital marketing!

*SocioBiz aims to promote financial inclusion and empower communities through entrepreneurship.

Why crowdfund with us?

0% platform fees

Alliance Islamic Bank will bear the platform fee for the first RM500,000 raised by SIM Grant applicants, exclusive of payment gateway fees.

Digital marketing

We will boost the campaigns through targeted digital marketing to create more awareness and help you achieve your crowdfunding targets.

Convenience

We will help you to get started by setting up the campaign page for you!

Potential zakat funds for asnaf entrepreneurs

If you are an aspiring impact-driven asnaf entrepreneur, you may qualify to receive our zakat funds.

Additional service to local entities

Be part of our #SupportLokal initiative, an online bazaar that helps promote local businesses (eligibility criteria applies).

How to crowdfund with us?

Apply to Fundraise

It’s simple! Complete this form and we will get back to you at the earliest.

Start Crowdfunding

Receive Funding

You will receive the donations at the end of the campaign period or when the campaign is fully funded.

Apply for SIM Grant

Submit your proposal to MaGIC and keep your donors posted on your progress! 

Successful SIM Grant applicants will receive a 20% rebate on the platform fee

FAQs

Anyone can crowdfund on SocioBiz provided that they met the criteria to be a partner on SocioBiz. Campaigns are listed for verified partners to provide confidence to the donors on the proper usage of funds.


You are eligible to be a partner if you fulfill the following criteria:

  1. – You are a business entity registered with MaGIC under the Social Enterprise Accreditation (i.e. Basic SE or SE. Accredited) or an individual registered with SocioBiz’s charity partners.
  2. – You have a project or initiative that can meet the SIM Grant eligibility criteria. Learn more about SIM Grant here.
  1. – You have an account with Alliance Islamic Bank.
  2.  

If you have any enquiries, drop your information here and we will get in touch with you to get more details.

You can refer to the Step-by-Step Guide by MaGIC by clicking here

You can crowdfund projects or initiatives which provides solutions in:

  • – Environmental Protection
  • – Food Security
  • – Health & Social Wellbeing
  • – Community Livelihood
  • – Heritage Preservation
  •  

Click here to learn more

Once you’ve met SocioBiz’s eligibility criteria, we will help you set up your campaign on SocioBiz! Once you have provided us with the necessary information, your campaign will be listed within 2-3 working days.

1. Platform Fee

The SocioBiz platform is powered by GlobalSadaqah, our platform provider. A standard 7.5% fee (5% platform fee + 2.5% service fee) is charged by GlobalSadaqah for the amount raised from the public. We will support the SIM Grant applicants with the following fee structure:  


Total amount crowdfunded                 

Platform fees

First RM500,000

7.5% fee covered by Alliance Islamic Bank.

Next RM500,000

20% rebate on 7.5% fee for successful SIM Grant Applicants.


2. Payment Gateway Fee

The fees are set by the payment gateway. Details of the fees are available here.

You can share your campaign in a variety of ways:

  1. – Share with your friends and families;
  2. – Update your website and social media channels;
  3. – Initiate an engaging activity to drive donations to your campaign and etc.
  4.  

We will support you by boosting your campaigns through targeted digital marketing to increase the awareness and coverage of your campaign!

Click Here for Fundraising Tips

The period of the campaign can vary from 30 days to 90 days depending on the project.

Keep what you raise – You will receive the funds donated to your project whether you reach your target or not. However, you are still required to provide updates to SocioBiz on the utilization of the funds and the outcome.

Choose website currency

Please note that the payment is processed in Malaysian Ringgit (MYR). Currency conversions are estimated and should be used for informational purposes only.