More banks are issuing debt notes to be Basel III compliant
KUALA LUMPUR: The Association of Banks in Malaysia reiterates that businesses still have access to financing and there are various types available for the various sizes of business.
In a statement issued on Tuesday, ABM said as of July 2016, the total outstanding loans extended by the banking system to the business sector amounted to RM532.6bil.
It was responding to the Global Competitiveness Report 2016 – 2017 by the World Economic Forum where it was mentioned that access to financing was one of the problematic factors for doing business in Malaysia.
In clarifying the report, the ABM pointed out there are various types of financing available for the small and medium scale enterprises and entrepreneurs based on the size of businesses, such as micro-financing and/or the various grants and funds offered by the government.
“Businesses facing difficulties are requested to seek help early by either approaching their bankers for assistance or apply for the Small Debt Resolution Scheme, which is a pre-emptive scheme to support SMEs with impaired financing,” it said.
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