Recommend Us | About Us | Back to

News | Financial Calculator | Home Financing | Archived News |


  Welcome to Bernama Banking & Finance Special Page     
AIBIM Wants Govt To Channel Incentives For SMEs Via Islamic Banks
Last update: 23/10/2017

By Zairina Zainudin

KUALA LUMPUR, Oct 23 (Bernama) --The Association of Islamic Banking Institutions Malaysia (AIBIM) hopes the government will use Islamic banks as the platform for its incentives allocation especially those aimed at boosting the Small and Medium Enterprises (SME).

AIBIM President,†Datuk Mohd Redza Shah Abdul Wahid, believed financing to the SMEs would be one of the main points to be addressed in the upcoming 2018 Budget.

"Under the budget two years ago, the government provided incentive allocations to Islamic†banks, but at the moment there's none as all (allocations) have been†channelled to the conventional banks.

"Now we want incentives through Islamic banks to be reintroduced. This can help encourage the development of Islamic banks, (by encouraging people to use Islamic banking products," Mohd†Redza, who is also Bank Muamalat†Malaysia Bhd Chief Executive Officer, told Bernama†recently.

He expected that some RM300 million to RM400 million worth of financing would be channelled to the SMEs†under Budget 2018, with the government providing†up to two per cent subsidy.

"That (subsidy) will lower the financing cost to SMEs. It will help lower thier†cost of doing business†in terms of reducing the†financing cost obligation in the future," he explained.

The 2018 Budget will be tabled by Prime Minister Datuk Seri Najib Tun Razak†in†Parliament this Friday.



Bank Islam Launches Sadaqa House
RAM Ratings Withdraws AmBank Islamic's Issue Rating

Ram Ratings Reaffirms Maybank Islamic's AAA/Stable/P1 Ratings

Axa Affin General Insurance Wins 5 Awards At World HRD Congress 2018
Life Insurance Industry Records Strong Growth In 2017

Provident Insurance's Credit Ratings Remain Unchanged - A.M. Best

US 3.9170/9200
S'pore 2.9556/9587
100 Yen 3.6488/6533
Sterling 5.4485/4535
Euro 4.8081/8134
Source: Bank Negara Malaysia

Starting April the banks have imposed a 50 sen processing fee on top of the 15 sen stamp duty on each cheque. The fee also applies to those applying for a Bankerís Cheque, Bank Draft and Cashierís Order. Do you think this additional charge is justified?

  Main | News | Insurance

© 2018 BERNAMA. All Rights Reserved. Disclaimer | Privacy Policy| Security Policy
This material may not be published, broadcast, rewritten or redistributed in any form except with the prior written permission of BERNAMA.
Best viewed in Firefox 8.0 & Internet Explorer 8.0 with 1024 x 768 resolution