KUALA LUMPUR: Small Medium Enterprise Development Bank Malaysia Bhd (SME Bank) has successfully facilitated about RM3.6 billion in approved financing for FY24, a 35.1% increase from 2023.
This funding has been directed towards micro, small, and medium enterprises (MSME) classified as unserved and underserved, spanning key strategic sectors such as bumiputra enterprises, technology and digital adoption, climate-related industries, halal businesses, and tourism.
This initiative aligns with Bank Negara Malaysia’s Performance Measure Framework (PMF), which emphasises the role of Development Financial Institutions (DFIs) in driving greater developmental impact.
SME Bank acting group president and CEO Datuk Dr Mohammad Hardee Ibrahim said aligning with the Madani government’s aspirations, the bank continues to drive high-impact growth initiatives.
“As a DFI wholly owned by the Finance Ministry and supervised by the Ministry of Entrepreneur and Cooperatives Development (MECD), we believe in providing financing and beyond financing support to MSMEs at every stage of their growth journey – from Asnaf entrepreneurs taking their first steps to thriving exporters expanding into global markets.
“We are proud to be the sole DFI providing financial support with structured capability-building programs that ensure long-term business resilience.
“This milestone reflects our commitment to mobilising the RM1.7 billion allocation from National Budget 2024 targeting MSMEs,“ he said.
The bank’s initiatives comprised various high-impact strategic initiatives aimed at providing financing and beyond financing support for the MSME community.
The Program Pembangunan Keusahawan Halal has benefited over 130 participants since its inception in 2023, while the Program Pembangunan Vendor has onboarded 106 vendors with over RM13.6 million in approved amounts since its inception in 2022.
As of 2023, the Program Pembangunan Vendor has seen an increase in revenue by 17.5% to RM204 million.
Meanwhile, as of December 2024, the Business Exports Programme, a structured intervention programme curated by MECD, has onboarded 83 companies, facilitating over RM192 million in total export sales across key global markets such as Southeast Asia, the UAE, the UK, and the US.
In support of growing SMEs to expand their footprint internationally, the bank’s signature business matching programme SME Bank XCESS has facilitated international industry players to handpick Malaysian SMEs to venture into the export markets.
In addition, the SME Bank iTekad Ishraf by BNM proactively supports the government’s aspirations in empowering the B40 community, specifically the Asnaf entrepreneurs.
The SME Bank iTekad Ishraf, which received approximately RM5 million crowd-in funds from strategic partners recorded an increase in the number of participants from 20 participants for Ishraf 1.0 within one state and 79 participants for Ishraf 2.0 across six states to 400 participants nationwide.
In 2025, the government continues to entrust SME Bank to empower the growth of MSMEs with existing programmes as mandated in the National Budget 2025.
The bank will extend its financing and beyond financing support with emphasis on financial inclusion to MSMEs across key strategic sectors such as the bumiputra, technology, environmental, social & governance, halal and tourism segments.
These strategic priorities are intended to support the country’s economic growth, amplifying the positive momentum achieved by the bank in 2024 and beyond.
