SME Bank approved RM30.6 billion financing since inception to 17,380 bumiputera MSMEs

KUALA LUMPUR: SME Bank has approved more than RM30.6 billion in financing to 17,380 Bumiputera micro, small, and medium enterprises (MSMEs) since its inception, encompassing dedicated bumiputera programmes and various other financing facilities.

Group president and chief executive officer Datuk Dr Aria Putera Ismail said that among the bank’s financing programmes is the SME Bank Upward Migration and Acceleration (i-SMART) programme, an RM 180 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,” he said in a statement.

He said the 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.

“SME Bank consistently aligns itself with the government’s initiatives and agenda to empower bumiputera entrepreneurs, in line with the overarching objective of an economic transformation outlined in the New Agenda for Bumiputera Empowerment,” he added.

Aria noted that the bank also took 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 in partnership with the Malaysia External Trade Development

Corporation.

Bolstered by a dedicated fund of RM30 million, he 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.

“Furthermore, SME Bank allocates RM10.5 million to the vendor capacity and capability development programme to extend support to bumiputera vendors in enhancing their competitiveness, sustainability, and resilience,” he added. — Bernama