A delegation from KOMEPS FINTECH paid a visit to the D-8 Secretariat on 20th February, 2018 and presented their project proposal on D8P Card. The delegation was led by Mr. Mohd Sorihan Bin Mohamad, MD and CEO of the company. 

KOMEPS was contemplating to develop a payment mechanism for the D-8 Member States; the mechanism envisaged development of a new arrangement which would offer the citizens, business community of the D-8 in particular, better choice to make financial transactions. The financial technology would operate within the ambit of existing national and international financial regulatory framework and enable transaction with far lesser cost. KOMEPS mentioned in their presentation that the benefits of up to 40 percent would be returned to the users and they would be able to see the difference in real terms. The company also envisaged a 5% endowment (Waqaf) fund to be established from the profit of operations. 

Ambassador Dato’ Ku Jaafar Ku Shaari, D-8 Secretary-General, welcomed the initiative and interest of KOMEPS to cater to the goals of the D-8 Organization. He assured the delegation of all cooperation should the project benefit all the Member States and bring about inclusive benefits to all stakeholders. He mentioned that a detailed business proposal on the project followed by the review by the D-8 Commission would help concretise the mode of cooperation between the D-8 and the KOMEPS. He appreciated the project idea and thanked the delegation for their visit to present their case to the D-8.