Page 96 - Bank-Muamalat_Annual-Report-2023

BANK MUAMALAT MALAYSIA BERHAD

OUR PROGRESS AND
OUTPUT IN SUSTAINABILITY

2. FOSTERING GROWTH AND INNOVATION M3 Entrepreneur Development

Why is this Important? What Did We Do?
Entrepreneur development is crucial for fostering innovation, In 2023, Bank Muamalat made significant strides in
driving economic growth, and creating employment supporting entrepreneur development through various
opportunities. By collaborating with identified parties and initiatives and collaborations:
government agencies, Bank Muamalat leverages partly
secured guarantees to support MSMEs, which are vital for the Financial Approvals and Disbursements: We approved
economic development of local communities. Ensuring that RM373.94 million in funding for MSME customers,
these businesses have access to financial resources enables with disbursements totalling RM239.28 million. This
them to thrive, contributing to a robust and dynamic economy. substantial financial support underscores our commitment
This approach aligns with our mission to support sustainable to empowering entrepreneurs and fostering business
economic development and financial inclusion, thereby growth.
enhancing the overall well-being of society. Teraju Bumiputera Healthcare Supply Chain Financing
Programme: Through our collaboration with the
What is Our Approach?
initiative, we approved RM49.5 million in funding, with
RM18.5 million disbursed. This programme aims to
Our approach to entrepreneur development focuses on
support Bumiputera entrepreneurs by providing financial
strategic collaborations and targeted financial support for
assistance and resources to help them succeed.
MSMEs. Key components of our strategy include:
What Did We Achieve?
Collaborations with Identified Parties: Partnering with
vendors, business partners, and government agencies Our efforts in entrepreneur development have resulted in
to provide partly secured guarantees, ensuring that significant positive outcomes for MSMEs:
entrepreneurs have access to necessary funding.
Direct Stakeholder Engagement: Focusing on the Enhanced Access to Funding: By approving and
specific needs of MSME customers, tailoring our financial disbursing substantial amounts of financial support,
solutions to support their growth and development. we have enabled numerous entrepreneurs to access
the resources they need to grow their businesses.
Leveraging Government Programmes: Working closely
with government initiatives such as Teraju to provide Strengthened Collaborations: Our partnerships with
additional financial support and resources to government agencies and business partners have
entrepreneurs. bolstered our ability to provide partly secured guarantees,
enhancing the financial stability and growth prospects of
our entrepreneurial clients.
Support for Bumiputera Entrepreneurs: Through the
programme, we have specifically targeted support for
Bumiputera entrepreneurs, promoting inclusive economic
growth and ensuring that all segments of society can
benefit from our development initiatives.
These achievements highlight Bank Muamalat’s dedication
to fostering a thriving entrepreneurial ecosystem, supporting
sustainable economic growth, and promoting financial
inclusion. Our ongoing commitment to entrepreneur
development is a key component of our mission to create
‘Better Lives, Together’, by empowering businesses and
driving economic progress.

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