A Fijian delegation, including representatives from the Reserve Bank of Fiji, Ministry of Trade, Co-operatives, MSMEs and Communications, and the Fiji Investment Corporation Limited, visited Malaysia in August to learn from the country’s experience with equity crowdfunding (ECF) and peer-to-peer lending (P2PL).
The study tour was organised by the Pacific Private Sector Development Initiative (PSDI) as part of its support for Fiji’s Access to Business Funding Act 2025, which enables the establishment of innovative financing mechanisms aimed at broadening access to finance for businesses.
During the visit, participants met with the Securities Commission Malaysia to explore Malaysia’s regulatory frameworks for ECF and P2PL, as well as successful platform practices. The group also discussed Malaysia’s co-investment fund, MyCIF, which co-invests alongside private investors in ECF and P2PL campaigns. The delegation examined how the Securities Commission engages with institutions that support micro, small, and medium-sized enterprises (MSMEs).
The Fijian delegation said they valued the opportunity to exchange insights on how P2PL operates in Malaysia and how such innovative financing tools can empower MSMEs. Participants noted that they came away with a deeper understanding of the different business models for ECF and P2P lending, as well as the potential benefits of introducing P2PL before ECF in Fiji, given P2PL’s simpler structure and more sustainable returns.
Participants also reported gaining a clearer appreciation of the importance of building public awareness and understanding of innovative financing mechanisms prior to launching any platforms. They learned about developing supportive structures such as co-investment funds and tax incentive schemes to encourage participation by investors and small businesses, and how to design targeted capacity-building programmes for platform providers, regulators, issuers, and investors.
The visit further underscored the need for strong governance and transparency requirements for entities operating innovative financing platforms, including fit-and-proper standards for key personnel and robust investor disclosure obligations.
Insights from the Malaysia study tour have already informed an action plan for the Ministry of Trade, Co-operatives, MSMEs and Communications and the Reserve Bank of Fiji to guide the phased establishment of P2PL and ECF platforms. The plan includes steps to develop regulatory guidelines, implement capacity-building and awareness initiatives, and secure broader government and stakeholder support for innovative financing in Fiji.
