Ann: FFG founds iHarap to start Islamic Financing Business, page-11

FFG creates new 100% owned Islamic company add-on , IHarap, to its BNPL build to facilitate a technological platform to introduce tho facilitate the fast growing Islamic f\inancing business

(Fatfish creates iHarap to enter Fast-Growing ethical Islamic Financing Business, Complementing its BNPL Roll-out mainstream lending as an important ethical separate add-on of Islamic financing products to end high users. Fatfish will utilise its existing technical components to accelerate the separate development of iHarap to introduce another Important income stream, Islam Fainnce,one of the fastest growing

Areas in in the finance industry. Islam the moat widely practised religion in SE Asia with 275 million Muslims is a high % of the SE Asian population is a highly important addon to our new BNPL build soon going into production. A very important commercial move)

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Media Announcement highlights.

Highlights:

•  iHarap is incorporated as a 100% owned subsidiary of Fatfish
  
•  iHarap will develop a technology platform that facilitate the offering of ethical Islamic financing products to end-consumers
  
•  Fatfish will utilize its existing tech components and capability to accelerate the development of iHarap
  
•  iHarap will be complimentary to FFG’s existing BNPL rollout, sharing common tech components and back-office operations
  Fatfish Group Ltd (“FFG” or the “Company”) is pleased to announce that it has founded a new 100% owned subsidiary in Malaysia, iHarap Sdn Bhd (“iHarap”), that will be undertaking digital Islamic financing business in Malaysia.
  The word “Harap” means hope in the local Malay language, with iHarap loosely translates into “i-Hope”.
  The High Growth Islamic Financing Market
  Islam is the most widely practised religion in Southeast Asia, with more than 275 million Muslims translating to approximately 42% of the entire population.
  Globally Islamic finance is one of the fastest growing areas in the global finance industry.
  Fatfish has chosen to launch iHarap in Malaysia as it is among the global leaders of Islamic finance globally, due to its successful development of a complete Islamic
  1. Legal/44729209_1
  

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A strong financial add-on.