SME Bank commits to helping MSMEs overcome challenges

 

Micro, small, and medium-sized businesses (MSMEs) face many problems, but SME Bank promises to provide assistance and go above and beyond to help them take advantage of possibilities. SME Bank will keep bolstering its policies, practices, processes, and infrastructure in 2023 to improve the quality of its services and the satisfaction of its clients.

Malaysia and other developing nations face significant challenges due to persistent inflationary pressures, tighter monetary conditions, the strength of the US dollar, and the hazards posed by climate change. On the home front, there are several concerns as well. Impending subsidy reduction, growing price pressures, and tighter monetary policy will likely limit consumer expenditure. MSMEs are unlikely to be immune to the impacts of the GDP slowdown since they comprise 97.4% of all enterprises in Malaysia.

SME Bank’s Future Modality as an entrepreneurial development center of excellence through its training division, Centre for Entrepreneur Development and Research Sdn Bhd, encourages ESG adoption among MSMEs and bolsters the digital ecosystem; offering specialized goods and services. By advocating and promoting environmental, social, and governance (ESG) adoption among MSMEs through more sustainability-related offerings with competitive rates like the High Tech and Green Facility, Low Carbon Transition Facility, Young Entre-preneur Fund 2.0, and IBS Promotion Fund 2.0, SME Bank will continue to be an effective agent of change in 2023.

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