KUALA LUMPUR: Small Medium Enterprise Development Bank Malaysia Bhd (SME Bank) and Bank Simpanan Nasional (BSN) have inked a memorandum of understanding to empower Malaysia’s homegrown entrepreneurs.
In a statement today, SME Bank said the collaboration aims to catapult the growth of entrepreneurs by enhancing financial access, building capacity, and enabling digital transformation, reinforcing the role of development financial institutions (DFIs) in nation-building.
Its acting group president/chief executive officer, Datuk Mohammad Hardee Ibrahim, said that at the core of this collaboration is BSN’s extensive pool of microfinance customers, who can leverage SME Bank’s robust suite of digital tools tailored for micro, small and medium enterprises (MSMEs) development.
"In particular, through our ScoreXcess platform, a one-stop business financing application portal for small and micro financing, operated by our capacity-building and training arm, the Centre for Entrepreneur Development and Research (CEDAR).
"By combining our expertise, this partnership signifies a strategic collaboration between two DFIs, and underlines our shared commitment to accelerate entrepreneurial growth and providing targeted support that meets the dynamic needs of today,” he said.
Mohammad Hardee also said SME Bank would continue to support SMEs across key sectors, including BSN’s customers as they become ready to expand-consistent with its mandate to empower SMEs throughout their lifecycle.
He said SME Bank’s offerings go beyond financing, encompassing support in areas such as technology and digitalisation, including through its SME Technology Transformation Fund and Pembiayaan Ekosistem Payung.
"We are also proud to mobilise Bank Negara Malaysia’s High Tech and Green Facility to help SMEs grow in strategic and sustainable sectors,” he added. - Bernama
