KUALA LUMPUR, 19 September 2019 – Long-standing partners Standard Chartered Malaysia and Credit Guarantee Corporation Malaysia Berhad (CGC) have entered into a new collaboration which will see the Bank being the latest to come onboard CGC’s online referral platform imSME.
Both Standard Chartered Malaysia and its Islamic banking arm will help the SMEs with financing to meet their working capital needs. The Bank now can promote its financing products and services via the imSME platform.
“Financing SMEs without collateral is a challenge which the entire industry needs to come together to resolve. imSME is a step in the right direction to solve this problem and Standard Chartered is proud to be a partner for the platform.”
Abrar A. Anwar, Managing Director and Chief Executive Officer at Standard Chartered
imSME is Malaysia’s first SME financing/ loan referral platform that provides an array of financing products and services offered by the participating banks and agencies. This one-stop online financing centre for SMEs is the brainchild of Bank Negara Malaysia and is managed by CGC.
Since its inception until 31 August 2019, imSME has recorded more than 816,000 visitors to its website with over 10,000 registered SMEs. During the same period, imSME also recorded over 1,300 loan approvals amounting to MYR131 million.
“The participation of Standard Chartered Malaysia and Standard Chartered Saadiq Malaysia in
imSME is timely and there will be more choices of business financing for SMEs to tap into.
This commitment reflects the Bank’s trust in imSME and acknowledges its function in
advancing further the financial inclusion agenda for SMEs.”
President/ Chief Executive Officer of CGC, Datuk Mohd Zamree Mohd Ishak