Since its inception, Islamic finance (IF) has been besieged with numerous problems, in both the conceptualisation of products and their adaptability in the Islamic framework relating to mechanics in the real world. One of the issues related to IF are high intensity of debt-based financing. To overcome it, BNM has established a financial platform known as the Investment Account Platform (IAP) to promote the use of investment account (IA) in the banking business. The objectives of this study are to investigate the low participation of Islamic banks in IAP and assessing the criteria of ventures in order to be listed on IAP. The case study method is used to explore some issues facing IAP, SBs and ventures of which many are SME business owners having difficulties to access microloans for their businesses. A thematic analysis is used to analyse the data. The findings indicate that factors such as trust issues contribute to the low participation of IBs in IAP; risk exposure of IBs arises due to the mentality of the Islamic Bankers and lack of knowledge of IAP. In term of the criteria adopted by IBs to list ventures on IAP are; access to financing, lending exposure, and trust issue among players, whereby both SBs and ventures do not believe in the concept of IAP, hence, they are not confident it will work to their advantage. A case study involving two Islamic banks and their two ventures chosen based on the most recent listing on the platform revealed that both ventures have similarity and differences. A few recommendations are proposed to revive Islamic banking system in Malaysia.