Maybank seeks to empower disadvantaged communities

MAYBANK has announced the successful completion of the first phase of its economic empowerment programme entitled ‘Reach Independence & Sustainable Entrepreneurship’ or ‘R.I.S.E.’, the second phase of which launched on Sept. 26.

As a five-year entrepreneurship training programme designed to support disadvantaged communities particularly Persons with Disabilities (PWDs), R.I.S.E. was introduced to Malaysia, Indonesia, the Philippines, and Laos in 2014. The second phase of the programme will now be expanded to Myanmar and Singapore, aiming to improve the lives of more than 17,000 communities by 2023.

The event was held at the Maybank Performing Arts Theatre in Bonifacio Global City Manila, and was graced by Chuchi Fonacier, geputy governor, Bangko Sentral ng Pilipinas. Also present were Maybank and Maybank Foundation Chairman Datuk Mohaiyani Shamsudin, Maybank Philippines Chairman Ms Fauziah Hisham and Maybank Foundation CEO Mr Shahril Azuar Jimin.

Mr. Shahril said that the R.I.S.E programme has seen exponential results in its first phase of implementation, with more than 6,000 beneficiaries from numerous underprivileged communities in the four countries seeing their incomes rise significantly and become financially independent.

“R.I.S.E 2.0 will predominantly focus on helping and nurturing PWDs to compete in a sustainable manner in the current age of digitalization. It is important that our communities, especially the underserved ones, are able to withstand the challenges in today’s volatile operating environment, as they cannot be left behind while the wider population continues to profit from the advancement in technology,” he said.

“In ensuring the PWDs continue to benefit under R.I.S.E 2.0, Maybank will reach out to the under banked communities from rural areas to improve their access to banking services. This is part of the Bank’s mission to humanise financial services by supporting local business growth as well as strengthen financial inclusion in ASEAN.”

In total, the first phase of the R.I.S.E programme from its inception in 2014 to 2019 has helped the lives of 6,358 participants in the four countries where it was carried out. More specifically, there were a recorded 2,551 participants from Malaysia, 2,269 in Indonesia, 1,292 in the Philippines and 246 in Laos.

Out of these participants, 40% of those trained achieved an average monthly income increase of more than 350%. Additionally, most of the participants were able to become self-sufficient and continue to thrive in running their businesses years after the initial training.