SME Corp Joint Effort With ICIFE To Scale Up IFE Among SMEs

SME Corp Malaysia has launched the SME Action Plan for 2016-2025, a well-structured programs especially in terms of access to financing the Asean small and medium enterprises (SMEs).
SME Corp Malaysia Chief Executive Officer (CEO) Dato’ (Dr.) Hafsah Hashim said there was strong demand from Asean members for Malaysia to introduce and share its Islamic financing expertise and training programs. Asean members were also observing the Malaysia’s Credit Guarantee Corporation (CGC) facilities which provide guarantee to SME loans and financing.
“I believe the planned joint efforts between SME Corp Malaysia and ICIFE will scale up Islamic Finance Education among SMEs in Malaysia and Asean members to greater heights in consonant with the agenda of SME Corp Action Plan 2016-2025. The plan is aimed at enhancing the contributions of SMEs sector to the region and boost their capabilities and become world class like SMEs from Japan, South Korea, Australia, Europe and the US,” Dato’ Hafsah said when meeting with ICIFE Project Director Dr. Haji Zulkifly Baharom at SME Corporation Head Office on 04 Dec @Platinum KL Sentral.  
“What we have done in 2012 was, together with the local Islamic Banks, put up a RM2 billion financing for our SMEs, whereby the government agreed to pay 2% of the profit rate charge on the financing provided by the participating financial institutions. The loan to our SMEs was under Islamic financing and in 2016 another RM1 billion will be injected,” she proudly told Dr. Haji Zul.
The outcome of 04 Dec meeting with SME Corp CEO was very encouraging. Dato’ Hafsah assured ICIFE would be inclusive under SME Corp Action Plan for 2016-2025 focusing on capacity building that could enhance Islamic Finance CEP & TOT for SMEs in Malaysia and the Asean members.

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