KUALA LUMPUR, Nov 21 (Bernama) — CIMB Bank Berhad (“CIMB Bank”) and CIMB Islamic Bank Berhad (“CIMB Islamic”) 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.
This micro financing solution by CIMB is made available via Credit Guarantee Corporation Malaysia Berhad’s (CGC) imSME platform, an online SME financing referral platform launched in 2018. imSME is an innovative idea mooted by Bank Negara Malaysia and supported by other participating banks. The online platform enables SMEs to access fast and real-time information on financing options. SMEs can sign up for CIMB’s micro financing solution via imSME at 30 CIMB branches currently. The platform will be made available at all CIMB branches nationwide by year-end.
