KUALA LUMPUR – SME Exporter Financing Programme allocates RM100 million for financing packages targeted to small and medium enterprises (SMEs).
The initiative is a collaboration between the Malaysia External Trade Development Corporation (MATRADE) and Bank Islam Malaysia Bhd with the aims to provide MATRADE members assistance in meeting financial needs along with offering financial solutions to the SMEs that are keen on expanding their market outreach.
A recently released statement said that the SME Exporter Financing Programme offers exclusive multi-financing packages to MATRADE members for working capital requirements and capital expenses. The packages include Term Financing-i, Cash Line-i, Trade Facilities, and Foreign Exchange Contract-i.
Furthermore, the collaboration enables the onboarding of eligible MATRADE members to Bank Islam’s SMEXpert platform. This allows for SMEs to market their products and services domestically as well as globally while expanding their digital presence at lower costs. Additionally, SMEs would also be able to explore new business opportunities.
According to MATRADE’s deputy chief executive officer (exporters development), Abu Bakar Yusof, the strategic partnership is ideally timed to support SMEs with their export operations and market expansions.
He explained that these initiatives on financial assistance and digitalisation support for SMEs are in line with MATRADE’s ongoing commitment to help facilitate Malaysian exporters, ensuring that they are resilient and sustainable in their worldwide market expansion journey.
Meanwhile, Bank Islam chief executive officer, Mohd Muazzam Mohamed, highlighted that the group understands that there is a critical need for businesses to rethink their business models in order to expand their reach to remain relevant during the age of digitalisation and economic recovery.
“We encourage efforts that assist our clients in getting financial access and possible opportunities through this SME Exporter Financing Programme, our SMEXpert platform and also MATRADE’s expertise,” he added.
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