AGROBANK recently forged a strategic partnership with Gabungan Persatuan-Persatuan Penjaja dan Peniaga Kecil Melayu Malaysia (GPPPKMM) to extend the benefits of its Agro Penjaja-i initiative to hawkers and small traders nationwide.
As a representative body for Malay hawkers and small traders, GPPPKMM plays an
important role in coordinating development programmes and activities at both the national
and state levels.
The organisation also contributes to domestic economic development by participating directly in the planning and implementation of business policies and economic initiatives, while representing the needs and interests of the hawker community.
Agrobank group president and chief executive officer, Datuk Tengku Ahmad Badli Shah
Raja Hussin, said “Many hawkers and small traders operate viable businesses but continue to face challenges related to working capital, financial management and the adoption of digital facilities.
“This strategic partnership provides an important platform for Agrobank and GPPPKMM to strengthen support for hawkers and small traders through more inclusive access to financial services.
“This will enable them to grow their businesses and contribute more meaningfully to their local economies.
“Financing alone is not sufficient. Hawkers and small traders also require financial knowledge, entrepreneurial guidance and practical digital solutions.
“Agro Penjaja-i brings these elements together to support the development of more resilient and sustainable businesses,” he added.
Through Agro Penjaja-i, hawkers and microentrepreneurs may access a range of benefits
and facilities, subject to the applicable terms and conditions, including:
> Preferential profit rates for customers opening an Agro Tani Saudagar-i account under the individual category or an Agro Perdana Saudagar-i account under the non-individual category.
> Microfinancing of up to RM100,000
> Cashline-i credit facilities of up to RM5,000
> Ar-Rahnu financing of up to RM300,000, with a preferential profit rate from as low as RM0.50 per month and access through a dedicated Green Lane.
> Complimentary online and in-person financial literacy and entrepreneurial development programmes.
> Three months of business coaching and monitoring.
> Advisory and financing support for halal certification in accordance with Shariah guidelines.
> DuitNow QR SoundBox packages starting from RM114.
Since its launch in May, Agro Penjaja-i has recorded more than RM1mil in AgroSaudagar deposits across 488 accounts.
The initiative has also registered 370 customers for Agrobank’s digital banking services and activated 311 Agrobank DuitNow QR accounts.
To date, these DuitNow QR facility has facilitated 14,248 transactions valued at more than RM200,000, while 82 QR SoundBox units have been distributed to support the adoption of digital payments among hawkers.
In terms of microfinancing, 70 financing accounts have been approved, with a total value exceeding RM2mil.
In addition to this strategic partnership, Agrobank continues to strengthen its on-the-
ground engagement to better understand and address the needs of its target communities.
Since the launch of the Skim Usahawan Tani Agrobank x Fama, Agrobank and its partner agencies have participated in 10 engagement sessions at selected farmers’ markets nationwide.
These sessions have enabled traders and customers to receive direct advice tailored to their respective business needs.
Through the engagements, Agrobank received 274 microfinancing applications with a combined value of RM10.6mil.
