October 7, 2019
Anchored on three pillars: SME Transact (e.g. cash management services), SME Financing (e.g. no-collateral and business property financing), and SME Partners (various services from logistics, workspace and connectivity etc, offered by CIMB partners).
Both CIMB Bank and CIMB Islamic Bank are on track to disburse RM15 billion to SMEs in 2019 to 2020, having provided RM3.9 billion to Malaysian SMEs for the six-month period ending June 2019.
“Beyond financing, our support comprises knowledge-sharing and strategic partnerships, so that SMEs, start-ups and entrepreneurs can develop and scale up systematically.” CIMB Group Holdings Bhd chief executive officer Tengku Datuk Seri Zafrul Aziz said.
CIMB has also partnered Axiata Digital Capital to provide 700,000 SMEs in Malaysia and Indonesia in tandem with access to financing solutions. CIMB did not only collaborate with CapBridge Pte Ltd to assist SME capital raising, CIMB also provided them a platform to access market globally with the Asean-China Halal Corridor as the world’s demand for halal products overtook the supply.
CIMB also said in collaboration with Credit Guarantee Corporation (CGC), CIMB Islamic had allocated RM2bil unsecured Shariah financing; as well as micro financing to small business owners via the imSME, Malaysia’s first SME financing/loan referral platform, managed by CGC. Customers now have access to micro financing via imSME at 10 selected branches from September onwards with the aim of making this available nationwide by year-end.