Alliance Islamic Bank Bhd recently concluded the inaugural three-month Economic Empowerment Programme (EEP) for 50 B40 micro-entrepreneurs.
The EEP equips micro-entrepreneurs with practical knowledge on business innovation, marketing, customer analysis and financial management so that these entrepreneurs would be able to make a living for themselves even during challenging economic situations. This helps empower the lower-income community to be self-sufficient through income earned as a business owner.
The participants reported positive results in four aspects namely, family, health, living standard and community after they successfully completed the programme. 92% of the participants indicated that they used their increased income to improve their living standards and contribute to the community, while 90% said they could afford more nutritious food and access to healthcare.
Additionally, 66% of participants cited a positive spill-over effect on their family’s education as they can now afford to buy school supplies and pay for their children’s school fees.
Rizal IL-Ehzan Fadil Azim, CEO of Alliance Islamic Bank says, “At Alliance Islamic Bank, we work with communities to promote economic inclusion amongst the poor and nurture businesses that positively impact society.
“Micro enterprises are useful to provide a taste of business to new entrepreneurs. The experience helps to hone their business acumen, imbues confidence in themselves, helps raise income levels, and accrues spill-over benefits to the local communities. The structured entrepreneurship programme targets both skills and mindset training and includes classroom sessions, coaching and a three-month mentorship which were conducted online.”