KUALA LUMPUR, 21 November 2019 – CIMB Bank Berhad and CIMB Islamic Bank Berhad recently announced an allocation of RM50 million to benefit the micro Small and Medium Enterprises (SME) segment.The allocation will be disbursed via CIMB SME Micro Financing-i, an Islamic working capital with financing amount of up to RM50,000.
CIMB’s support of the micro SME sector also complements the Government’s newly announced stimulus measure to aid the growth of SMEs in the 2020 budget, and is in line with the Government’s National Entrepreneurship Policy to have 50% of Malaysia’s GDP contributed by SMEs by 2030.
“Our RM50 million allocation is aimed at encouraging not only the growth of micro SMEs but also entrepreneurship among the B40s to help them improve their income and livelihood.Victor Lee Meng Teck, CEO, Group Commercial Banking, CIMB Group
“This collaboration between CGC and CIMB will enable the provision of financing access to micro SMEs nationwide through imSME, Malaysia’s first financing/loan referral platform. imSME will enable micro SMEs to secure financing online, at their convenience and it is easy to use.”Leong Weng Choong, Chief Business Officer, CGC