Bank Negara Malaysia (BNM) welcomes the announcements in the Belanjawan 2027 speech by Prime Minister and Minister of Finance, YAB Dato’ Seri Anwar bin Ibrahim.

Further to the announcement, BNM wishes to share details on initiatives by BNM and the financial industry to help Malaysians seize growth opportunities, better manage financial challenges and support business resilience.

Supporting SME Resilience

• An additional RM5 billion will be allocated for the SME Stabilisation Relief Facility (SME SRF). The additional allocation is expected to benefit around another 9,000 small and medium enterprises (SMEs) including microenterprises to have access to affordable working capital. This will help SMEs manage temporary cash-flow pressures, maintain operations, and strengthen business resilience amid the economic impact of the ongoing Middle East conflict. As at 30 September 2026, RM3.8 billion in financing under the facility’s initial RM5 billion allocation has already been approved, benefiting more than 6,800 SME accounts.
  
  The SME SRF will remain available to affected SMEs across all economic sectors until 30 June 2027 or full utilisation, whichever is earlier. For more information, visit bnm.gov.my/funds4sme.

• The implementation of CAKNA will be strengthened further to expand access to working capital for small contractors (G1-G4)^[1] undertaking Government projects. This will help support the timely completion of these projects. To further reduce financing costs, the RM10 nominal stamp duty treatment for CAKNA I and II financing agreements will also be extended until 31 December 2030.

Expanding Consumer Choice

• MediAsas will be rolled out to the public in January 2027. Premiums/contributions paid for the voluntary medical and health insurance/takaful (MHIT) plan will be eligible for income tax relief. The tax relief can be claimed for coverage purchased for oneself and immediate family members. In addition, RM40 million will be allocated to provide MediAsas vouchers for employees of SMEs with fewer than 75 employees to encourage broader protection for those in the workforce who may currently have limited or no MHIT coverage. As part of the RESET strategy, these measures will support greater financial preparedness for healthcare needs while reducing the financial burden of medical expenses.

• Banks will start offering basic credit cards (BCC) in phases from October 2026. The product is designed to provide consumers with a more affordable and no-frills credit card option. It has a simplified structure without rewards or cashback programmes. It has a maximum interest or profit rate of 14% per annum. Existing cardholders may transition to BCC and transfer eligible outstanding balances, enabling them to benefit from lower financing costs while supporting responsible credit use and debt management.

Bank Negara Malaysia Governor Dato’ Seri Abdul Rasheed Ghaffour said, ‘Belanjawan 2027 reflects a balanced approach that continues to advance important reforms while supporting households and businesses amid ongoing global uncertainties. The budget places greater emphasis on strengthening Malaysia’s economic resilience, raising incomes, improving healthcare affordability and supporting productive investment, while preserving fiscal discipline. Going forward, the key challenge will be to ensure that productivity, innovation and investment continue to strengthen alongside rising incomes so that growth remains sustainable and benefits are shared broadly.’

[1] G1-G4 refers to the grades of registered contractors with the Construction Industry Development Board (CIDB).

See also: Belanjawan 2027 Speech by YAB Prime Minister