PUTRAJAYA: About 700,000 licensed traders under various hawker associations stand to benefit from Agrobank’s Agro Penjaja-i initiative, which aims to empower traders and micro-entrepreneurs, particularly in navigating global economic uncertainties.
Agrobank Group president and chief executive officer Datuk Tengku Ahmad Badli Shah Raja Hussin said the initiative, launched on Wednesday (May 13), targets small traders, particularly hawkers, by offering financing, advisory services and digital financial management and savings solutions.
“Through the initiative, traders and micro-entrepreneurs will be able to enjoy various benefits and special facilities, including micro financing schemes of up to RM100,000 and a Cashline-i credit facility of up to RM5,000.
“Agrobank also offers hibah, or returns on savings, under the Agro Penjaja-i account, which is additionally protected by takaful, with free takaful for the first 3,000 new customers for a year.
“We also provide a green lane for Ar-Rahnu processing of up to RM300,000, with special rates and returns on traders’ savings.
“Among the terms and conditions, applicants must be registered with a hawkers’ association and a local authority (PBT) to carry out business activities as traders,” he said at a press conference after the launch of the programme.
He said approvals would be based on repayment capacity and the needs of individual traders, including those who already receive financing from government agencies.
Meanwhile, Agriculture and Food Security Minister Datuk Seri Mohamad Sabu said the programme aligns with Prime Minister Datuk Seri Anwar Ibrahim’s call for banks, government-linked companies (GLCs) and government-linked investment companies (GLICs) to help ease the burden of small traders while sustaining economic activity.
“The initiative is a holistic approach by Agrobank to empower the trader and micro-entrepreneur community, which forms one of the backbones of the national economy.
“Through this initiative, we are not only providing easy and inclusive access to financing but also helping them improve their entrepreneurial knowledge, financial management and digital business capabilities,” he said.
Mohamad said the comprehensive approach could help traders increase their income, expand their businesses and strengthen their economic sustainability.
“We recognise that traders play a very important role in the national economic chain.
“They not only provide job opportunities and income for families but also form the backbone of the local community economy,” he said.
