Anwar additionally requires extra banks to help iTEKAD to low-income micro-entrepreneurs of their pursuit of beginning companies
by AUFA MARDHIAH/pic from BNM
PRIME Minister, Datuk Seri Anwar Ibrahim introduced an extra RM6 million for the iTEKAD programme, a rise from the RM4 million preliminary finances introduced in Could.
Anwar additionally known as for extra banks to help iTEKAD, which gives important financing entry, to low-income micro-entrepreneurs of their pursuit of beginning companies.
“With the programme’s success, the expectation of 20 taking part banks and extra funds from Financial institution Negara Malaysia (BNM), therefore, I’ll add RM6 million to (make it) RM10 million for the programme,” stated Anwar on the “Majlis Jalinan Kerjasama iTEKAD” in Kuala Lumpur.
At present the programme witnessed 9 taking part banks.
iTEKAD is a blended social finance scheme that was launched in 2020 to help low-income microentrepreneurs. The programme gives social finance property (donations, social affect funding, zakat and money waqf), microfinance and structured coaching.
Along with the ministry of finance’s RM4 million iTEKAD grant, funds are obtained by zakat, money waqf, state authorities allocations for entrepreneurship improvement programmes, company social duty funding and charity from state Islamic non secular our bodies, monetary establishments, government-related companies, in addition to personal firms and most of the people.
Initially, the programme was managed by one monetary establishment, two implementing companions and 57 programme members. Now, it has grown to incorporate 11 monetary establishments (FIs), greater than 50 implementing companions and has benefitted greater than 3,000 members as of Could 2023.
The taking part FIs are Financial institution Islam Malaysia Bhd, CIMB Islamic Financial institution Bhd, Financial institution Muamalat Malaysia Bhd, Financial institution Kerjasama Rakyat Malaysia Bhd, Agrobank, Financial institution Simpanan Nasional, RHB Islamic Financial institution Bhd, AmBank Islamic Bhd, SME Financial institution, Public Islamic Financial institution and Maybank Islamic Bhd. In the meantime, new implementation companions embody Koperasi Usahawan Serikandi Johor (KUSERI), Sekretariat Usahawan Negeri Perak (STEP), Lembaga Kemajuan Tanah Persekutuan (FELDA), Majlis Agama Islam Melaka (MAIM), Majlis Ugama Islam dan Adat Resam Melayu Pahang (MUIP), Majlis Ugama Islam Sabah (MUIS), Tabung Baitulmal Sarawak (TBS) and MADCash Sdn. Bhd.
By 12 months finish, taking part FIs along with their respective implementation companions have dedicated to onboard over 4,000 iTEKAD members.
At present, iTEKAD has mobilised greater than RM40 million of social finance funds and has supplied vital advantages to its members together with a rise in enterprise development, the flexibility to make use of staff, a extra resilient enterprise and with the ability to make the most of know-how in enterprise.
“Up to now, greater than 40% of iTEKAD members have managed to generate revenue exceeding RM4,000 per thirty days, whereas 70% are capable of make use of no less than one worker, greater than 70% are capable of save as much as RM4,000 per thirty days and greater than 90% perform gross sales and advertising on-line in addition to utilizing e-payments for his or her enterprise transactions,” stated BNM’s governor Datuk Shaik Abdul Rasheed Ghaffour.
Moreover, he added that BNM is at the moment within the strategy of evaluating a number of new programme purposes that can profit extra members.