iTEKAD: Empowering Low-Income Microentrepreneurs

iTEKAD Entrepreneurship intro

iTEKAD Entrepreneurship: Empowering low-income microentrepreneurs

iTEKAD Entrepreneurship aims to assist low-income microentrepreneurs to strengthen their financial management and business acumen towards generating sustainable income. By leveraging on social finance instruments, each programme combines 1) seed capital to start or sustain their business; 2) access to microfinance; and 3) structured financial and business training.

For more information, please read our feature article, iTEKAD: An Ecosystem Approach in Scaling Up Social Finance in BNM’s Annual Report 2023.

statictics-itekad

Key Progress of iTEKAD

(as of end-March 2026)

14,387

Total microentrepreneurs

RM94.2 million

Social finance fund disbursed

RM77.2 million

Financing and investment disbursed

Impact iTEKAD

Impact of iTEKAD Entrepreneurship
(as at end-December 2025)

Based on sample of microentrepreneurs who graduated from the iTEKAD programme

88%

Business growth
Increased monthly sales

>2,400

Employment
New jobs created

93%

Financial resilience
Saved up to RM4,000 of business income per month on average

90%

Digital upskilling
Conduct online sales and marketing

iTEKAD Entrepreneurship - PFIs

Financial institutions participating in iTEKAD Entrepreneurship

Bank Simpanan Nasional

CIMB Islamic Bank

Hong Leong Islamic Bank

AmBank Islamic

Programme name	AmBank Islamic’s iTEKAD Programme
Objective	Provide grant, technical and entrepreneurship training at early stage of their business, with support on digital infrastructure
Funding features	Returned zakat and access to microfinancing facility
Value-added propositions	Zakat-funded grants with support for enhancement of business digital capability
Target segment	Asnaf entrepreneurs
Implementation partners	Teraju Ekonomi Asnaf Selangor (TERAS) Koperasi Usahawan Srikandi Johor Berhad (KUSERI) Sekretariat Usahawan Negeri Perak (STEP) Northern Corridor Implementation Authority (NCIA) Ibupreneur Malaysia Yayasan Pembangunan Keluarga Darul Ta’zim (YPKDT) Majlis Agama Islam Negeri Johor (MAIJ)

Bank Islam

Programme name	iTEKAD BangKIT Microfinance	iTEKAD Maju Microfinance
Objective	Provide benevolent loans / Qard financing for business start-up and expansion	Microfinancing for working capital and seed capital on needs-basis
Funding features	Donations-funded microfinancing facility	Returned zakat and microfinancing facility
Value-added propositions	Benevolent loan for business start-up and business expansion	Zakat-funded purchase of business equipment for business expansion
Target segment	Microentrepreneurs who are ineligible for ordinary banking financing facilities	B40 and asnaf microentrepreneurs
Implementation partners	Gerakwanis Persatuan Peniaga Pasar Siti Khadijah Yayasan Pembangunan Usahawan Terengganu Universiti Kuala Lumpur Universiti Islam Antarabangsa Malaysia Kolej Universiti Islam Antarabangsa Malaysia Yayasan Sultanah Bahiyah Majlis Agama Islam Wilayah Persekutuan (MAIWP) Zakat Pulau Pinang (ZPP) Lembaga Zakat Negeri Kedah (LZNK) EDCHOPE Synergy People System Consultancy MADCAT World Majlis Belia Malaysia Noble Management & Consultancy Lembaga Kemajuan Tanah Persekutuan (FELDA) Waqf An-Nur Corporation Berhad Majlis Belia FELDA Malaysia Universiti Malaysia Kelantan University College Bestari UiTM Sarawak	Various State Religious Islamic Councils Universities Companies that supply agricultural input and obtain agricultural produce Lembaga Kemajuan Tanah Persekutuan (FELDA) Family Wellbeing Sdn Bhd Sabah Social Enterprise Association (SOSEA) Waqf An-Nur Corporation Berhad Majlis Belia FELDA Malaysia Universiti Malaysia Kelantan University College Bestari UiTM Sarawak

Bank Muamalat

Programme name	iTEKAD Mahabbah
Objective	Provide benevolent loans / Qard financing to support microbusiness owners or gig economy workers from selected business sectors (as agreed with funders)
Funding features	Returned zakat and microfinancing facility
Value-added propositions	Benevolent loan to support businesses in sectors including food and beverages, and the gig economy
Target segment	Microentrepreneurs in the F&B sector and gig economy
Implementation partners	Pahang state government Kelantan state government Perlis state government Lembaga Zakat Selangor Majlis Agama Islam dan Adat Istiadat Melayu Kelantan Agensi Kaunseling dan Pengurusan Kredit (AKPK) Perbadanan Hal Ehwal Bekas Angkatan Tentera (PERHEBAT) Angkatan Koperasi Berhad (ANGKASA) Teraju Ekonomi Asnaf Sdn Bhd (TERAS) People System Consultation Sdn Bhd Satu Creative Services Sdn Bhd (SCS) Sarawak Society for the Blind (SSB) Malaysian Association for the Blind (MAB)

CIMB Islamic Bank

Programme name	iTEKAD CIMB Islamic Rider Entrepreneur Asnaf Programme	Melon Manis Terengganu (MMT) Graduate Agropreneur Programme	Program Keusahawanan (PK) CIMB Islamic – Taylor’s
Objective	Provide participants with employment opportunities as food delivery riders to establish stable income, paired with entrepreneurial training	Develop viable and resilient agropreneurs in Terengganu, specifically for those from poor families	Provide financial assistance and entrepreneurship training to selected microentrepreneurs from the asnaf and B40 segments, who are looking at growing their small/micro businesses
Funding features	CSR grant, cash waqf, zakat fund and microfinancing facility	Charity/zakat fund and microfinancing facility	Charity/zakat fund and microfinancing facility
Value-added propositions	CSR- and waqf-funded motorcycles and entrepreneurship training programme for beneficiaries, with prospective opportunity for business financing if required	Agropreneur Training and Farm Managers Program (FMP), with certification on production of hybrid melons by UniSZA alongside entrepeneurship training
Target segment	Individuals from B40 and asnaf categories	Low-income agropreneurs from low-income families in Terengganu	Individuals from B40 and asnaf categories
Implementation partners	Yayasan Belia Malaysia (YBM) Taylor’s Community Foodpanda Majlis Agama Islam Melaka (MAIM) Majlis Ugama Islam Dan Adat Resam Melayu Pahang (MUIP) Majlis Ugama Islam Sabah (MUIS) Tabung Baitulmal Majlis Islam Sarawak (TBS) >Various State Islamic Religious Councils (Wilayah Persekutuan, Selangor, Negeri Sembilan, and Penang) Pusat Pungutan Zakat-MAIWP (PPZ-MAIWP)and Zakat Perlis	Universiti Sultan Zainal Abidin/UNISZA Holdings Yayasan DiRaja Sultan Mizan (YDSM)	Taylor’s Community Yayasan Belia Malaysia

Public Islamic Bank

Programme name	Public Islamic iTEKAD Micro Entrepreneurs Development Programme	Public Islamic Kelestarian Ekonomi Asnaf Zakat Melalui Penternakan Itik Penelur (KELIP) iTEKAD Programme
Objective	Provide support to microentrepreneurs at early stage of their business through entrepreneurship training tailored to respective business sector	Empower asnaf participants by providing technical training on poultry farming and entrepreneurship
Funding features	Returned zakat and access to microfinancing facility	Returned zakat and access to microfinancing facility
Value-added propositions	Entrepreneurship development through funding support and training in digital marketing and operations	Comprehensive support in both technical poultry farming and business development, ensuring participants have the necessary tools to gain a sustainable income stream from duck egg farming
Target segment	Asnaf entrepreneurs	Asnaf participants
Implementation partners	Majlis Agama Islam Wilayah Pesekutuan (MAIWP) Institut Keusahawanan Negara (INSKEN) Lembaga Zakat Negeri Kedah (LZNK) Universiti Utara Malaysia (UUM) Teraju Ekonomi Asnaf Sdn Bhd (TERAS)	Universiti Malaysia Pahang Al-Sultan Abdullah (UMPSA)

RHB Islamic Bank

Programme name	BEST-BYOB (B40 Empowerment Strategy – Be Your Own Boss)
Objective	Provide support to start pre-franchise business through structured training, business matching and financial assistance
Funding features	Returned zakat and access to SME financing facility
Value-added propositions	Zakat-funded grants and/or benevolent loans for start-up of franchise business
Target segment	Asnaf venturing in pre-franchise business
Implementation partners	Perbadanan Nasional Berhad (PERNAS)

Bank Simpanan Nasional

Programme name	BSN MulaNiaga
Objective	Facilitate gradual growth of participants towards being bankable by providing training, coaching and funding in tranches
Funding features	Returned zakat with graduation to microfinancing facility
Value-added propositions	Zakat-funded grants and/or graduation to microfinancing for business expansion
Target segment	Asnaf and graduated asnaf, who may not be eligible for zakat assistance nor ordinary banking financing faciilities
Implementation partners	Teraju Ekonomi Asnaf Selangor (TERAS) Kementerian Pengajian Tinggi (KPT) Co-operative and Entrepreneurship Development Institute (CEDI) of Universiti Utara Malaysia (UUM) Universiti Sultan Zainal Abidin (UniSZA) Yayasan Diraja Sultan Mizan (YDSM) Universiti Malaysia Kelantan (UMK) Jabatan Kebajikan Masyarakat (JKM) of Sarawak State Jabatan Penjara Malaysia/Perbadanan Hal Ehwal Bekas Angkatan Tentera (PERHEBAT) Persatuan Usahawan Wanita Bumiputera Malaysia (USAHANITA)

Bank Rakyat

Programme name	Bank Rakyat UNIpreneur	RAKYATpreneur	Rakyatpreneur B40
Objective	Provide support to student entrepreneur through coaching, mentoring and monitoring	Provide support to microentrepreneurs at early stage of their business through coaching, mentoring and monitoring	Provide support to microentrepreneurs through coaching, mentoring and monitoring
Funding features	Returned zakat and access to microfinancing facility		MOF grant and access to microfinancing facility
Value-added propositions	Zakat-funded and/or MOF grants for expansion of new business
Target segment	University students entrepreneurs from asnaf/B40 background	Asnaf microentrepreneurs with at least 3 months business operation	Non-asnaf B40 entrepreneurs
Implementation partners	25 universities nationwide: Universiti Malaya (UM) Universiti Kebangsaan Malaysia (UKM) Universiti Putra Malaysia (UPM) Universiti Teknologi MARA (UiTM) Universiti Sains Malaysia (USM) Universiti Islam Antarabangsa Malaysia (IIUM) Universiti Utara Malaysia (UUM) Universiti Pendidikan Sultan Idris (UPSI) Universiti Islam Antarabangsa Sultan Abdul Halim Mua’dzam Shah (UniSHAMS) Universiti Sains Islam Malaysia (USIM) Universiti Tun Hussein Onn Malaysia (UTHM) Universiti Malaysia Sarawak (UNIMAS) Universiti Malaysia Sarawak (UNIMAS) Universiti Malaysia Sabah (UMS) Universiti Malaysia Kelantan (UMK) Universiti Malaysia Terengganu (UMT) Universiti Malaysia Pahang (UMP) Universiti Malaysia Perlis (UNIMAP) Universiti Sultan Zainal Abidin (UNiSZA) Universiti Pertahanan Nasional Berhad (UPNM) Management & Science University (MSU) Asia e University (AeU) Widad University College (WIDAD) Kolej Komuniti Malaysia	All State Islamic Religious Councils UiTM Technoventures Sdn Bhd (UTVSB)	SME Corp Perbadanan Nasional Berhad (PERNAS)

Agrobank

Programme name	Structured Community Development Programme for Cash Crop and Sumber Kekayaan Baru	Agroiltizam
Objective	Provide resources and upskilling to the target segment towards nurturing agripreneurship or microentrepreneurs selling agriculture-based products Comprises various sub-programmes, each focusing on different agriculture activity and crop	Assist B40 and asnaf groups who are either existing microentrepreneurs or individuals who aspire to be microentrepreneurs in the agriculture sector, to start and maintain their businesses.
Funding features	Diverse social finance funds (zakat, zakat wakalah, etc.) and access to microfinancing facility	Social finance funds (fund guarantees) and access to microfinancing facility
Value-added propositions	Support in the form of agriculture inputs, equipment and land infrastructure, intended to support venture into agripreneurship and subsequent expansion post-incubator stage	Additional support for customers of Agrobank’s Agroiltizam Microfinancing and Agroiltizam Contract Financing
Target segment	Asnaf who are committed to become entrepreneurs and work on agricultural projects i.e. becoming an agripreneur	B40 or asnaf microentrepreneurs involved in agro-based and agriculture value chain business
Implementation partners	Aris Burger Benih Udang Port Dickson FGV Holdings International Institute of Aquaculture and Aquatic Sciences (I-AQUAS UPM) Kementerian Pertanian dan Keterjaminan Makanan (KPTM) Koperasi Kolej Vokasional Pasir Puteh (KVPP) Koperasi Usahawantani Alor Gajah Melaka Berhad (KUAGMB) Koperasi Permodalan Sahabat (KOSAHABAT) KPTM – Program Pembangunan Agropreneur Muda Siswazah (PROBEST) Kulim Pineapple Farm Lembaga Perindustrian Nanas Malaysia Majlis Agama Islam dan Adat Istiadat Melayu Perlis (MAIPs) Majlis Agama Islam Melaka (MAIM) Majlis Agama Islam Johor (MAIJ) MSR Growth Solutions Persatuan Pengusaha Nanas Negeri Johor Pewaris Gadong Plantation Sdn Bhd Sinar Syukrawie Enterprise Suruhanjaya Syarikat Malaysia (SSM) Takaful Malaysia Tisha's Food UniKL Universiti Sultan Zainal Abidin (UniSZA) Waqaf An-Nur Corporation Berhad	Federal government and agencies State government Petronas Johor State Islamic Religious Council Anchor companies: Aqina Fruits Sdn. Bhd. Aqina Farming Sdn. Bhd. Colla Niaga Sdn. Bhd. Golden Corn Marketing Sdn. Bhd. GK Aqua Sdn. Bhd. Nas Madi Venture Sdn. Bhd.

SME Bank

Programme name	SME Bank iTEKAD Ishraf
Objective	Provide training, medium-term coaching and seed capital as funding support
Funding features	Returned zakat, CSR contributions and access to microfinancing facility
Value-added propositions	Zakat- and/or CSR-funded grants for business start up or expansion
Target segment	Asnaf entrepreneurs
Implementation partners	Various State Islamic Religious Councils Centre for Entrepreneur Development and Research (CEDAR) Yayasan Pembangunan Ekonomi Islam Malaysia (YaPEIM) FGV Holdings Permodalan Nasional Berhad (PNB) Etiqa Family Takaful Etiqa General Takaful Bank Islam Malaysia Berhad

Maybank Islamic

Programme name	Aspirasi Wanita	POD – Qard Hassan Social Financing Programme	Community Economic Development – Megapreneur Programme	Program Usahawan Belia Sejahtera	iTEKAD Emerging Micro-Entrepreneurship Programme
Objective	Empowering the economy for women in micro-enterprises and the gig economy, while embracing digital technology	Empowering the economy for underserved segments through a financial well-being platform and Qard-based microfinancing programme	Developing Asnaf participants’ entrepreneurial skills to generate additional income and improve their economic well-being	Empowering youth Asnaf entrepreneurs in Terengganu by providing training and support to encourage them to start and manage their own businesses successfully	Provide support to microentrepreneurs at early stage of their business by providing seed capital, mentorship and training, as well as access to affordable and tailored financing.
Funding features	Zakat and access to microfinancing facilities	MIB’s Ikhwan Charity Fund and access to microfinancing facilities	Zakat and access to microfinancing facilities	Zakat and access to microfinancing facilities	MIB’s Ikhwan Charity fund and access to microfinancing facilities
Value-added propositions	Funding and training to support start-up of business or gig career	Funding and training to support start-up of business or gig career	Funding and training to support start-up of business	Funding and training to support start-up and existing business	Funding and training to support start up business
Target segment	Aspiring microentrepreneurs or gig workers from asnaf categories	Youth, single mothers and B40 segment who needs funds for their micro-businesses, as well as gig workers	Asnaf entrepreneurs from Peninsular Malaysia	Asnaf entrepreneurs (faqir miskin) from Terengganu	Aspiring microentrepreneurs with at least 1 year business operation in Johor
Implementation partners	MADCash Various State Islamic Religious Councils	Pod Capital Sdn Bhd	ZL Empire Sdn Bhd	Yayasan Pembangunan Usahawan Terengganu (YPU)	POD Capital Sdn. Bhd.

Hong Leong Islamic Bank

Programme name	Women Excellence	SURI Youth Empowerment Program	Central Kitchen
Objective	Provide funding and training to marginalised low-income groups towards venturing into entrepreneurship in different economic activities		Facilitate microentrepreneurs’ access to a central kitchen, business equipment and necessary industry training & accreditation
Funding features	HLISB Special Fund for Projects with subsequent access to financing facility	Zakat wakalah and purification fund with subsequent access to financing facility	Capital funding by the NCIA appointed Implementation Partner with subsequent access to financing facility
Value-added propositions	Special training to help women entrepreneurs grow their revenue and create job opportunities	Funding and living skill of sewing to targeted B40 youths / single mothers	Facilitating access to a central kitchen, business equipment and necessary industry training and accreditation
Target segment	Women entrepreneurs	Underprivileged / B40 youths from Langkawi, specifically targeting single mothers	F&B entrepreneurs
Implementation partners	MADCash	SURI	Northern Corridor Implementation Authority (NCIA) NCIA’s Implementation Partner (TBC)

Affin Islamic Bank

Programme name	iTEKAD PERWIRA-i	Affin iTEKAD Suri Programme
Objective	To support retired Malaysian Armed Forces personnel in harnessing skills and productivity to generate sustainable income streams via entrepreneurship	To empower asnaf women entrepreneurs with the financial and entrepreneurial skills to operate sustainable and well-managed businesses
Funding features	Zakat funds and microfinancing facilities	Affin’s zakat funds and microfinancing facilities
Value-added propositions	Funding and training to provide insights to the fundamentals of business management, digital economy and online marketing	Funding and training, including adoption of digital marketing tools and readiness for halal and food safety compliance requirements.
Target segment	Retired Malaysian Armed Forces personnel	Asnaf women entrepreneurs
Implementation partners	Perbadanan Hal Ehwal Bekas Angkatan Tentera (PERHEBAT) Malaysian Research and Education Foundation (MyREF) Jabatan Hal Ehwal Veteran (JHEV)	Malaysia Research & Education Foundation Majlis Agama Islam Negeri Sembilan Majlis Ugama Islam Sabah

Association of Islamic Banking and Financial Institutions Malaysia (AIBIM)

Programme name	myZakat – Program Transformasi Usahawan Asnaf
Objective	Provides comprehensive support for asnaf entrepreneurs, focusing on long-term business success and personal growth through seed capital, business equipment, structured training, mentoring, and access to microfinancing, going beyond short-term aid to enable lasting impact
Funding features	Zakat wakalah and access to microfinancing facilities
Value-added propositions	Pilot multibank* iTEKAD programme
Target segment	Asnaf entrepreneurs, particularly in commercial food production, and air-conditioning & electrical wiring services, based on the recommendations of the respective State Islamic Religious Councils (SIRCs), and tailored to the specific needs and demands of each location
Multibank participating banks	Bank Islam Bank Muamalat Bank Rakyat
Implementation partners	myZakat member banks: Affin Islamic Bank Agrobank AmBank Islamic Bank Simpanan Nasional Hong Leong Islamic Bank Maybank Islamic MBSB Bank OCBC Al-Amin RHB Islamic Bank Strategic partners: Agensi Kaunseling & Pengurusan Kredit (AKPK) Kementerian Kesihatan Malaysia (KKM) Malaysian Takaful Association (MTA) Perbadanan Insurans Deposit Malaysia (PIDM) Pertubuhan Keselamatan Sosial (PERKESO) Suruhanjaya Syarikat Malaysia (SSM) Implementing partner: ZL Empire Sdn Bhd State Islamic Relgious Councils (SIRCs): Majlis Agama Islam dan Adat Melayu Terengganu Majlis Agama Islam dan Adat Melayu Kedah Majlis Islam Sarawak Majlis Ugama Islam Sabah

* Multibank iTEKAD programme: An iTEKAD programme involving more than one participating financial institution, collectively offering microfinancing to eligible iTEKAD programme participants, while also contributing to the programme’s seed capital or structured training components.

Alliance Islamic Bank

Programme name	Alliance Islamic TEJA iTEKAD Programme
Objective	Provide support to microentrepreneurs at early stage of their business through entrepreneurship training tailored to respective business sector
Funding features	Social finance funds and access to microfinancing facility
Value-added propositions	Entrepreneurship development through funding support and training in digital marketing and operations
Target segment	B40 women in Sarawak comprising from former recipients of the Geran Permodalan Pemerkasaan Wanita Sarawak
Implementation partners	Jabatan Wanita dan Keluarga Sarawak (JWKS) MADCash Sdn Bhd

AEON Bank

Programme name	AEON Bank’s Growth Start Programme	Sustainable, Reliable, Income (SRI) Program
Objective	Provide support to microentrepreneurs at early stage of their business through entrepreneurship training tailored to respective business sector	Improve the socioeconomic well‑being of B40 mothers in Selangor by equipping them with practical tailoring skills, providing essential tailoring tools, and directly linking them to income‑generating opportunities upon programme completion.
Funding features	AEON Bank’s Sadaqah and Ujrah, with future access to microfinancing facilities (currently being developed)	AEON Bank’s CSR fund and microfinancing facilities
Value-added propositions	Open-door iTEKAD programme whereby participants are provided with entrepreneurship development through funding support and training in digital marketing and operations	Support through funding, technical skills and training in digital marketing and financial literacy.
Target segment	B40 women entrepreneurs	B40 mothers community in Selangor
Implementation partners	MADCash Sdn Bhd	SURI Lifestyle Sdn. Bhd. Zuchini & Co.

FAQ-itekad-enterpreneur

Frequently Asked Questions on iTEKAD Entrepreneurship

1. What are the eligibility criteria for participants of iTEKAD Entrepreneurship?

At a minimum, participants must be aspiring or existing microentrepreneur from the low-income segment. Additional eligibility criteria are subject to the respective programmes implemented by participating financial institutions in collaboration with their implementation partners.

2. What examples of financing facilities do participating financial institutions offer to participants under their respective iTEKAD programmes?

Participating financial institutions can offer any microfinancing product that is suited to the needs of the target segment in their respective iTEKAD programmes. This includes products under Skim Pembiayaan Mikro (SPM) that leverage on Bank Negara Malaysia’s Fund for SMEs, particularly the Micro Enterprises Facility (MEF)

3. What aspects are typically covered under the structured training components of iTEKAD?

Broadly, this component covers three areas:

Capacity building – Participants receive training in financial and business management, as well as relevant technical know-how specific to their respective business sectors (e.g. sewing skills for tailors)
Coaching and mentoring –Participants are closely guided by a mentor / peer groups to support business growth
Value-adding support – Participants may be provided with opportunities to enhance their capabilities, such as adoption of digital technologies or by undertaking relevant certifications.

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