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Establishment of a RM200 million Micro Enterprise Fund

Ref No : 11/08/01 04 Nov 2008 Embargo : For immediate release    

Bank Negara Malaysia announces the launch of a RM200 million Micro Enterprise Fund to increase access to micro financing for micro enterprises with viable businesses, in this current more challenging business environment. Given that a significant percentage of SMEs in Malaysia are micro enterprises, adequate access to financing for this segment of businesses is vital so as to enable them to contribute to the economic development of the nation.

Bank Negara Malaysia will channel the funds to micro enterprises through the existing Pembiayaan Mikro scheme. Currently, nine financial institutions participate in this micro financing scheme. The Pembiayaan Mikro scheme has successfully benefited more than 40,000 micro enterprises since it was introduced in 2006. Under the Pembiayaan Mikro scheme, micro enterprises with viable businesses can obtain micro financing up to RM50,000 for working capital or for capital expenditure.    Micro financing under this scheme requires no collateral, minimal documentation and provides for quick approval and disbursement.  Pembiayaan Mikro is offered at more than 2,600 branches and affiliates/agents of the participating financial institutions that display the National Microfinance Logo.  Participating financial institutions will determine the interest or profit rate to be charged and applications are subject to the normal credit approval process of the participating financial institutions. 

For further details, micro enterprises can approach any of the branches and affiliates/agents of the participating financial institutions that display the National Microfinance Logo, or contact BNMTELELINK at 1-300-88-5465.

Bank Negara Malaysia
4 November 2008
 

Additional Notes for Media:

Participating Financial Institutions of the Pembiayaan Mikro Scheme

Commercial and Islamic Banks
1. Alliance Bank Malaysia Berhad
2. AmBank (M) Berhad
3. CIMB Bank Berhad
4. EONCAP Islamic Bank Berhad
5. Public Bank Berhad
6. United Overseas Bank (Malaysia) Berhad

Development Financial Institutions
7. Bank Kerjasama Rakyat Malaysia Berhad
8. Bank Pertanian Malaysia Berhad (Agrobank) 
9. Bank Simpanan Nasional


Definition of Micro Enterprises

The National SME Development Council defines micro enterprises as follows:

Manufacturing and Manufacturing Related Services sectors Primary Agriculture and Services sectors
Businesses with less than:
  • RM250,000 annual sales turnover; or
  • Five full-time employees.
Businesses with less than:
  • RM200,000 annual sales turnover; or
  • Five full-time employees.


The definitions can also be found at the following link located in the SMEinfo Portal: http://www.smeinfo.com.my

Bank Negara Malaysia
04 Nov 2008

© Bank Negara Malaysia, 2008. All rights reserved.