SME Bank acting group president/chief executive officer Datuk Dr Mohammad Hardee Ibrahim
KUALA LUMPUR: Small Medium Enterprise Development Bank Malaysia Bhd (SME Bank) has facilitated about RM3.6 billion in approved financing for the 2024 (FY2024) financial year, a 35.1 per cent increase from a year ago.
In a statement today, the bank said the funding was channelled to micro, small and medium enterprises (MSMEs) categorised as unserved and underserved across key strategic sectors.
"It includes Bumiputera, technology and digital adoption, climate-related as well as halal and tourism, in line with Bank Negara Malaysia’s Performance Measure Framework which emphasises development financial institutions (DFIs) to promote greater developmental impact,” it said.
Acting group president/chief executive officer Datuk Mohammad Hardee Ibrahim said the bank is committed to providing financing and beyond-financing support to MSMEs as a DFI wholly owned by the Finance Ministry and supervised by the Entrepreneur and Cooperatives Development Ministry.
"We are proud to be the sole DFI providing financial support with structured capability-building programmes that ensure long-term business resilience.
"This milestone reflects our commitment to mobilising the RM1.7 billion allocation from Budget 2024 targeting MSMEs,” he said.
Mohammad Hardee further noted that the bank’s subsidiary, the Centre for Entrepreneur Development and Research, was appointed as the ASEAN Centre of Excellence for MSMEs in Green Transition, which has been shortlisted as one of the priority economic deliverables for Malaysia’s ASEAN chairmanship in 2025.
Meanwhile, SME Bank said it will extend its financing and beyond-financing support with an emphasis on financial inclusion for MSMEs across key strategic sectors, including Bumiputera enterprises and all segments related to environmental, social and governance (ESG).
It reckoned these strategic priorities are intended to support the country’s economic growth, amplifying the positive momentum achieved by the bank in 2024. - Bernama
