KUALA LUMPUR: AmBank Islamic has partnered with Tekun Nasional to launch the AmBank Islamic Qard Microfinancing programme, supporting asnaf entrepreneurs, known as Asnafpreneurs.
The AmBank Islamic Qard microfinancing will be disbursed through Tekun’s Asnafpreneurs programme, with each recipient identified as an Ahli TEMAN in a group of five.
These groups are then required to attend weekly meetings known as Perjumpaan Setempat Ahli TEMAN (PSAT) to ensure weekly payment is be collected.
AmBank Islamic chief executive officer Eqhwan Mokhzanee believed that a strategic collaboration with a purpose-built partner like Tekun Nasional was key to achieving a broader impact.
“We hope this can enhance financial inclusion for micro-entrepreneurs in the B40 category, ensuring they have the resources and opportunities to grow their business.
“This is a step forward in empowering Malaysia’s MSMEs to adapt and thrive in today’s dynamic economy. We at AmBank Islamic are pleased to be a key enabler for this aspiration,” he said in a statement.
Meanwhile, Tekun Nasional managing director and chief executive officer Datuk Adam Abd Ghani said the collaborative programme was expected to empower entrepreneurs and elevate their economic standing, enabling them to move beyond their asnaf status
The initial funding for this programme is RM500,000 and is estimated to benefit more than 50 asnafprenuers. The term financing is with no profit charge, with repayment tenure of up to 18 months.
