RM30bil SME Bank loans to Bumis
Published on: Saturday, March 16, 2024
By: Mohd Izham Bin Hashim
As the leading Malaysian development financial institution (DFI) in fostering entrepreneurial growth, Wira highlighted SME Bank has approved over RM30.6 billion financing to 17,380 Bumiputera MSMEs since its inception which encompasses various dedicated Bumiputera programmes and other financing facilities.
Kota Kinabalu: SME Bank reaffirms its commitment to empowering MSMEs, paving the way towards growth and transformation, especially for Bumiputera entrepreneurs.
SME Bank Group President/ Chief Executive Officer, Datuk Wira (Dr.) Aria Putera Ismail said a comprehensive suite of initiatives are prepared to meet the varied needs of Bumiputera entrepreneurs.
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“SME Bank is committed to the Government’s aim to empower Bumiputera entrepreneurs which is in line with the overarching Bumiputera economic transformation plan outlined in the New Agenda for Bumiputera Empowerment,” he said.
As the leading Malaysian development financial institution (DFI) in fostering entrepreneurial growth, Wira highlighted SME Bank has approved over RM30.6 billion financing to 17,380 Bumiputera MSMEs since its inception which encompasses various dedicated Bumiputera programmes and other financing facilities.
Such programmes include the i-Smart Programme (SME Bank Upward Migration and Acceleration Programme), an RM180 million initiative focused on creating Bumiputera champions.
This programme focused on accelerating the growth and performance of MSMEs, propelling them towards global competitiveness and contributing significantly to the social well-being of the community.
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“SME Bank takes the lead in fostering export-oriented expansion with the Business Exports Programme (BEP), a meticulously designed intervention initiative funded by the Ministry of Entrepreneur and Cooperatives Development (MECD) in partnership with Malaysia External Trade Development Corporation (Matrade),” he said.
Bolstered by a dedicated fund of RM30 million, Wira said BEP is strategically crafted to elevate the capacity and capability of companies for international exports. Another RM500 million of Jaguh Serantau Financing in support of the Bumiputera export causes.
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Furthermore, he noted SME Bank allocates RM10.5 million to the Vendor Capacity & Capability Development Programme (PPKV) to extend support to Bumiputera vendors in enhancing their competitiveness, sustainability, and resilience.
As part of the 2024 National Budget, Wira said an allocation of RM200 million is designated for Dana Kemampanan PMKS Bumiputera to provide additional support to Bumiputera entrepreneurs.
“This initiative aims to elevate the stature of Bumiputera MSMEs by integrating funding and financing.
Through this allocation, Bumiputera entrepreneurs are empowered to expand their businesses and bolster competitiveness in foreign markets,” said Wira.
In its commitment to the development of social enterprises, SME Bank introduced the Social Enterprise Financing Scheme, with an allocation of RM15 million.
This scheme provides financial assistance for Basic and Accredited Social Enterprises recognised by MECD to finance their asset acquisition and/or working capital requirements.
Aligning with its corporate responsibility, he stated SME Bank introduced the iTEKAD Penjana Komuniti and iTEKAD Ishraf Programme, with an allocation of RM11.3 million.
“These strategic initiatives aim to bridge the opportunity gap, creating a sustainable economic impact on the livelihoods of B40, Asnaf, and single mothers entrepreneurs by providing essential skills, tools,and support for establishing and maintaining successful businesses,” he said.
By providing a structured programme, Wira said SME Bank aims to create competitive and resilient entrepreneurs, uplifting their standard of living and contributing to the community and the nation.
Highlighting the importance of vocational education and training,Wira noted the Centre for Entrepreneur Development and Research Sdn. Bhd. (Cedar), a wholly-owned subsidiary of SME Bank established in 2013, has enriched more than 80,000 programme participants through research-based coaching, function-based facilitation, and entrepreneur-focused mentoring programmes.
SME Bank welcomes strategic collaborations to develop more initiatives, reinforcing its dedication to the Bumiputera empowerment agenda and contributing substantially to the nation’s economic prosperity.
Find out more about SME Bank’s programmes and initiatives at www.smebank.com.my, SME Bank Facebook or call SME Bank’s Contact Centre at 603-26037700.
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