KUALA LUMPUR: Malayan Banking Bhd
(Maybank) has strengthened its support for small and medium enterprises (SMEs) affected by the ongoing West Asia conflict through targeted financing solutions, repayment assistance and facilitation of Bank Negara Malaysia's (BNM) Stabilisation Relief Facility (SRF).
The bank recently held an industry engagement and dialogue session with several business associations, including the Small and Medium Enterprises Association of Malaysia (SAMENTA), Federation of Malaysian Manufacturers (FMM), Dewan Perniagaan Melayu Malaysia (DPMM), the Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM), KL & Selangor Indian Chamber of Commerce and Industry (KLSICCI) and the Petrol Dealers Association of Malaysia (PDAM).
In a statement, Maybank said the engagement was aimed at gaining a better understanding of challenges faced by businesses while ensuring that available financial assistance and relief measures are effectively communicated.
Among the initiatives introduced is Maybank SME Perkasa, a rapid financing programme launched on May 12 for businesses affected by the conflict. The programme offers financing disbursement within 48 hours upon full document execution.
Existing SME customers may also apply for repayment assistance under the Financial Relief Scheme, with Maybank committing to provide an outcome within five working days.
In addition, the bank is facilitating applications for BNM's SRF, which provides financing of up to RM750,000 for up to five years at a maximum financing rate of 3.75% per annum, inclusive of guarantee fees.
"Malaysian SMEs are more than numbers that contribute to the economy – they are the key drivers of Malaysia's real economy and the communities they serve.
"As Malaysia's largest bank, we have a responsibility to be present to them beyond banking services by listening, understanding evolving business needs and ensuring that the solutions we offer is both accessible and meaningful," group chief executive officer of Community Financial Services Syed Ahmad Taufik Albar said.
The bank said it has also begun proactive engagements with SME customers to discuss available financial assistance and urged businesses facing financial pressure to seek support early.
Under its ROAR30 strategy, Maybank aims to mobilise RM100bil to support high-impact and high-value industries across the country.
