GoBarakah Achieves Global Recognition For Financial Inclusion Efforts

GoBarakah won the 2024 FIKRA ACE Accelarator at the Fintech Summit

GoBarakah, a pioneering fintech platform dedicated to social assistance, has garnered significant acclaim in 2024 by winning three prestigious awards, underscoring its transformative impact on financial inclusion and social welfare through innovative technology.

Launched in November 2023 by YB Dato' Sri Hajah Nancy Binti Shukri, the Minister of Women, Family and Community Development, GoBarakah is revolutionizing the delivery of social assistance. Utilizing e-voucher technology, the platform enhances transparency, traceability, and efficiency in the distribution of donations from various sources, including public donations, CSR funds, and wakalah. By integrating digital technology, GoBarakah fosters a seamless and accountable ecosystem that connects corporate funders, verified donors, organizations, and beneficiaries, effectively addressing the inefficiencies of traditional giving methods.

In September 2024, GoBarakah made a significant mark on the global fintech landscape by winning the FIKRAtech London 2024 award for “Expanding Financial Inclusion through Digital Technology.” This high-profile competition, organized by MDEC and supported by the Malaysia Securities Commission, featured an international panel of judges who commended GoBarakah's innovative use of e-vouchers, which offer a transparent solution for tracking and distributing social assistance.

GoBarakah emerged victorious in Malaysia's national competition for the World Summit Awards (WSA) 2024

Additionally, in October 2024, GoBarakah triumphed in Malaysia's national competition for the World Summit Awards (WSA) 2024, securing the title in the Business and Commerce category. The event, organized by Proficeo and hosted by PayNet, saw 153 nominations, with only 17 finalists selected to pitch their innovations. GoBarakah was celebrated for its contributions to the UN's Sustainable Development Goals (SDGs), particularly in the areas of poverty alleviation, social justice, and financial inclusion. The global round of the competition will take place in Hyderabad in April 2025.

GoBarakah achieving the top honors at FIKRAace 2024, a fintech accelerator program developed by the Malaysia Securities Commission in partnership with MDEC and Nexea Ventures

On the same day, GoBarakah also achieved top honors at FIKRAace 2024, a fintech accelerator program developed by the Malaysia Securities Commission in partnership with MDEC and Nexea Ventures. The program focuses on enhancing the Islamic capital market ecosystem, and GoBarakah was awarded a cash prize of RM50,000 for its Shariah-compliant e-voucher platform. This platform adheres to the principles of Maqasid Al-Shariah, promoting transparency, accountability, and collaboration for the greater goal of social inclusion and justice. Its effectiveness in ensuring that financial assistance reaches the appropriate beneficiaries while preventing misuse and enhancing traceability was pivotal in securing this accolade.

Firdaus Mohamed, CEO and Co-Founder of GoBarakah, expressed gratitude for the recognition, stating, “We feel that the local and international awards are good validation for our innovation and efforts to make social assistance a tech-led collaborative, trusted, and transparent space. We're grateful for our early corporate clients who trusted us to be their implementation partner in delivering their CSR funds.”

These accolades represent a significant milestone in GoBarakah's mission, affirming its innovative approach to addressing challenges in social assistance. The platform remains committed to creating a meaningful ecosystem where donors, organizations, and beneficiaries can collaborate efficiently and transparently.

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