Greenpro Capital Signed the Public and Private Partnerships Investment Agreement for the Development of Shariah Compliant Digital Finance & Economic Zone in Brunei and East ASEAN Growth Area to Serve over 1.9 Billion Muslims Globally
Greenpro Capital Corp. (NASDAQ:GRNQ) has announced a partnership with IHTHS Corporation to develop a Shariah Compliant Digital Finance & Economic Zone in Brunei. This initiative supports the BIMP-EAGA vision for innovation-based growth and is expected to create a robust digital ecosystem for over 1.9 billion Muslims worldwide. Key features include new offshore company rules and digital asset trading regulations, enhancing capital opportunities for businesses in various industries. Greenpro will serve as the Chief Architect of the project, aiming to meet the growing demand for Shariah compliant products.
- Establishment of the first Shariah Compliant Digital Finance & Economic Zone in Brunei.
- Partnership with IHTHS Corporation is expected to drive economic growth in the BIMP-EAGA region.
- Introduction of new offshore company rules, allowing online company registration and remote bank account opening.
- Creation of a Digital Assets Exchange to facilitate capital raising and trading through blockchain technology.
- Greenpro Capital acts as the Chief Architect, indicating strong leadership role in development.
- None.
KUALA LUMPUR, MALAYSIA / ACCESSWIRE / August 6, 2021 / Greenpro Capital Corp. (NASDAQ:GRNQ). announce that on August 2, 2021, it has signed a Public and Private Partnerships Investment Agreement with IHTHS Corporation, with the witness of BIMP-EAGA Business Council. The goal of this new partnership is to build a Shariah Compliant Digital Finance & Economic Zone, and to fulfil BIMP-EAGA's initiative to drive innovation-based development, and to facilitate and promote the development of Shariah Compliant Digital Finance Centre.
This new Digital Finance & Economic Zone will serve as a platform for high-quality commercial operators to co-participate in the development of the BIMP-EAGA region. This new zone will enable high-speed economic growth, with also keeping a firm focus on environmental, social, and governance best practices. Key elements include:
- First economic zone to be developed and to operate under a Public and Private Partnerships ("PPP") Program in Brunei.
- Approved by the Brunei Darussalam BIMP-EAGA Business Council and endorsed by BIMP-EAGA.
- Greenpro Capital Corp. ("GRNQ") to act as the Chief Architect in the design, development and operation of the Digital Finance Center.
First Bullion Holdings Inc.("First Bullion"), a Greenpro affiliate and leading Digital Asset Exchange and Security Token Offering will be the exclusive technology solution provider and advisor in the design, development, operations and compliance framework, listing rules, accreditation model and related technical considerations and requirements.
With more than 1.9 billion Muslims globally, the new Digital Finance & Economic Zone will be the first Syariah Compliant digital ecosystem to provide:
- New Offshore Companies Rules for International Business Company which will allow users to register companies online and allow remote bank account opening.
- New Digital Assets Listing and Trading Rules and Digital Assets Exchange to enable companies to raise capital and conduct secondary trading leveraging blockchain technology and retail funding.
- A new Reciprocal Recognition Arrangement to unite the BIMP-EAGA members and to extend the partnership with other countries in ASEAN through the Digital Assets Broker Dealers and Agents Affiliation Program.
A number of Shariah Compliant projects and businesses have already been identified and will become the pilot STO cases for the New Digital Asset Exchange. They cover a wide range of industries from textile, pyrolusite water technology, agritech to logistics and supply chain.
Dr. CK Lee, Chief Executive Officer of GRNQ, shared his thoughts on the new Digital Economic Zone "The pandemic has hit overseas travelling very badly. However, the demand for e-commerce sales of Syariah Compliant related products never stops. The new Digital Economic Zone can provide a comprehensive platform to meet users with all the Syariah Compliant demands. We will work closely with IHTHS and BDBEBC to develop a new ecosystem that is exciting, while honouring the cultural and economic character of Brunei."
About IHTHS Corporation
IHTHS Corporation is a private sector driven pioneer that facilitates the fostering of global standard businesses through the different developmental phases by creating good business leaders, associating with the primary players in BIMP-EAGA, and enabled through the halal economy and shariah compliant ecosystem, in line with the BIMP-EAGA Vision 2025. IHTHS' mission is to brand EAGA region as an International Halal Trade Hub on Shariah Compliant Value Stream and Trade Services, and promoting the ASEAN Economic Community to be developed as an industries and production base for the global Islamic market. For further information please visit https://bdbebc.ihths.com/web/2021/08/05/brunei-darussalam-bimp-eaga-business-council-approves-to-build-the-syariah-compliant-digital-economic-zone/
About Brunei Darussalam BIMP EAGA Business Council
The BIMP-EAGA Business Council represents the private sector in BIMP-EAGA. The Council enjoys a "fifth country" status at Senior Officials Meetings, with its chairman having the same rank as other senior officials during policy discussions. On rotation, currently the Council's Chairmanship is hold by Brunei Darussalam BIMP-EAGA Business Council (BDBEBC). BDBEBC strategic initiative is to promote the development of BIMP-EAGA region as the main economic platform on moving towards the Halal Economy through the private sectors' leading developments with the main focus to brand Brunei Darussalam as an International Halal Trade Hub with Sharia Compliance Stream and Trade services and promoting ASEAN Economic Community as industries and production base for the global Islamic market. For further information please visit https://bdbebc.ihths.com/web/.
About BIMP-EAGA
The Brunei Darussalam-Indonesia-Malaysia-Philippines East ASEAN Growth Area, or BIMP-EAGA, is a cooperation initiative established in 1994 to spur development in remote and less developed areas in the four participating Southeast Asian countries. Through BIMP-EAGA, the four countries aim to generate balanced and inclusive growth as well as contribute to regional economic integration in the ASEAN Economic Community. The objective of BIMP-EAGA is to boost trade, tourism, and investments by easing the movement of people, goods, and services across borders, making the best use of common infrastructure and natural resources and taking the fullest advantage of economic complementation. For further information please visit https://www.bimp-eaga.asia/.
About First Bullion Holdings Inc,
Empowered by world-leading technologies, First Bullion, trading as "CryptoSX" is building a cutting-edge crypto exchange platform for STO backed by Fiat/Crypto conversion capabilities. The exchange is the preferred digital platform for companies wishing to tokenize their assets, issue, and trade security tokens. CryptoSX is compliant with all applicable financial and virtual exchange policies and regulation of the Philippine government under CEZA (Cagayan Economic Zone Authority). The exchange platform was awarded a Full Principal License by CEZA in 2018. Since then, CryptoSX have been working very closely with CEZA to further develop and enhance STO listing procedures, as well as compliance and reporting requirements.
About Greenpro Capital Corp.
Headquartered in Kuala Lumpur, Greenpro Capital Corp. (NASDAQ: GRNQ), a Nevada corporation, with strategic offices across Asia, is a business incubator with a diversified business portfolio comprising finance, technology, banking, CryptoSx for STOs, health and wellness and fine art. With 30 years of experience in various industries, Greenpro has been assisting and supporting businesses and High-Net-Worth-Individuals to capitalize and securitize their value on a global scale through the provision of cross-border business solutions, spinoffs on major stock exchanges and accounting outsourcing services to small and medium-size businesses located in Asia. The comprehensive range of cross-border business services include, but are not limited to, trust and wealth management, listing advisory services, transaction services, cross-border business solutions, record management services, accounting outsourcing services and tax advisory services. We also operate venture capital businesses, including business development for start-ups and high growth companies, covering finance, technology, FinTech, and health and wellness. For further information regarding the Company, please visit http://www.greenprocapital.com.
Forward-Looking Statements
This press release contains forward-looking statements, particularly as related to, among other things, the business plans of the Company, statements relating to goals, plans and projections regarding the Company's financial position and business strategy. The words or phrases "plans," "would be," "will allow," "intends to," "may result," "are expected to," "will continue," "anticipates," "expects," "estimate," "project," "indicate," "could," "potentially," "should," "believe," "think," "considers" or similar expressions are intended to identify "forward-looking statements." These forward-looking statements fall within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934 and are subject to the safe harbor created by these sections. Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions or orders that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of local, regional, and global economic conditions, the performance of management and our employees, our ability to obtain financing, competition, general economic conditions and other factors that are detailed in our periodic reports and on documents we file from time to time with the Securities and Exchange Commission. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date, and the Company specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement.
CONTACT:
Gilbert Loke, CFO, Director
Greenpro Capital Corp.
Email: ir.hk@greenprocapital.com
Phone: +852-3111 7718
Contact Dennis Burns. Investor Relations.
Tel (567) 237-4132
dburns@nvestrain.com
SOURCE: Greenpro Capital Corp.
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