Maybank introduced the myimpact SME Hub, a one-stop integrated and holistic ecosystem for Malaysian Small and Medium Enterprise (SMEs), “offering value-based solutions established on sustainable and ethical principles.”
It also serves as a knowledge hub and support system “to facilitate and partner SMEs in their journey to transition towards sustainable practices.”
The Bank, along with leading industry partners aim to empower SMEs in Malaysia “to achieve a balance between the social responsibility, environmental impact and economic prosperity in navigating through the global supply chain to succeed on the world stage.”
There are currently about 1.2 million SMEs.
Dato’ Khairussaleh Ramli, President & Group CEO of Maybank said:
“Maybank has always been a champion of the SME segment, acknowledging them as the backbone of the nation’s economy. With the launch of the myimpact SME Hub and in line with our purpose of Humanising Financial Services, we are taking our support a step further to equip them with the tools and knowledge to navigate the business landscape and invite them to make the empowering impact towards sustainability choices. By fostering a thriving and responsible SME ecosystem, Maybank remains dedicated to not just supporting businesses, but building a brighter, more viable future for all.”
Dato’ John Chong, Group CEO Community Financial Services said “that the myimpact SME Hub offers a full suite of services and complete ecosystem to prepare SMEs in their sustainable journey and ultimately for many, enter the global supply chain to boost their growth potential.”
“We provide expert guidance and tailored support through practical tools, consultancy & advisory services, certification & accreditation facilitations as well as financing to cater to all their personalised business requirements. With the growing global demand for eco and ethically-conscious choices as well as availability of government incentives in favour of these initiatives, integrating sustainability principles is the strategic choice to ensure business continuity for the SMEs.”
In 2023, Maybank mobilized close “to RM17 billion in SME financing, of which RM5 billion was sustainable financing.”
This brings the total financing for SME “at RM66 billion from 2019 to 2023. As part of the Bank’s continued support for the 67% of the nation’s SMEs, Maybank aims to further disburse around RM18 billion of SME financing this year, representing a 13% growth in 2024 to further accelerate its customers’ transition to a more viable future.”
In addition, with a focus on the Halal industry, Maybank offers a nationwide Halal Solution which is targeted to help 200,000 Malaysian Halal industry SMEs of which currently around 70% of them are Maybank customers.
These include Holistic financing solution in “the form of Working Capital, Property Backed Financing, Trade Financing, SME Digital Financing and Zakat Financing (Aspirasi Wanita) to aid the growth and business expansion of Maybank Islamic’s Halal industry players.”
In efforts to become a holistic provider to Halal solutions and champion beyond banking services, Maybank will also “provide comprehensive guidance to customers in their Halal certification journey until they successfully obtain JAKIM’s Halal certification under the Halal Facilitation initiative in addition to a Halal Assurance System (HAS) that simplifies the upkeep of Halal document management digitally, ensuring compliance to JAKIM’s Halal standards.”