Malaysia External Trade Development Corporation (MATRADE), in collaboration with Bank Islam Malaysia Berhad (Bank Islam), launched the SME Exporter Financing Programme with an allocation of RM100 million to assist MATRADE members in meeting their financial needs.
The main objective of this scheme is to support the Small and Medium Enterprises (SMEs) in their international market outreach by providing total financial solutions for export activities. Bank Islam also offers the SMEXpert app, a digital marketing platform for SMEs to foster brand awareness and Halal business growth.
SME Exporter Financing Programme is a multi-financing product package that includes Term Financing-i, Cash Line-i, Trade Facilities, and Foreign Exchange Contract-i exclusively offered to MATRADE members for Working Capital Requirement (WCR) and Capital Expenses (CAPEX).
The collaboration also includes onboarding eligible MATRADE members on SMEXpert, where SMEs can market their products and services locally and abroad, expand their digital presence at a lower cost and explore new business opportunities.
According to MATRADE’s Deputy Chief Executive Officer (Exporters Development), Mr. Abu Bakar Yusof, this strategic collaboration is well-timed to assist Malaysian SMEs in export activities and venturing into new market. Initiatives on financial assistance and digitalisation support for SMEs align with MATRADE’s continuous commitment to facilitate the Malaysian exporters in ensuring they remain resilient and sustainable in expanding their market internationally.
A Memorandum of Understanding (MoU) between MATRADE and Bank Islam signed during the 17th Malaysia International Halal Showcase in September 2021 realised the efforts to assist SMEs in expanding their exports overseas.
On 14 April 2022, a webinar was conducted to introduce Bank Islam’s SME Exporter Financing Package and the digital marketing platform, especially for MATRADE members. Over 140 participants attended the session from various business sectors. MATRADE and Bank Islam will also conduct outreach programmes in other states to reach out to more SMEs to leverage Bank Islam’s SME Exporter Financing Programme and SMEXpert Digital Marketing platform.
Bank Islam’s Group Chief Executive Officer, Mr Mohd Muazzam Mohamed, said, “Bank Islam recognises the urgent need for businesses to reinvent their business models and expand their reach to stay relevant in this period of digitalisation and economic recovery. We welcome initiatives to support our clients in getting financial access and opportunities by benefiting from the scheme, our SMEXpert platform, and MATRADE’s expertise. Through this collaboration, we aim to explore the untapped potentials of our SME clients and aid them in making a mark regionally and beyond.”
