May-June . 2022 | @ Halal
Halal Finance
17
MATRADE ' s webinar was well attended by participants from various business sectors .
SMEXpert mobile app
Bank Islam developed a digital halal ecosystem platform called SMEXpert mobile app to assist SMEs in embarking on their digital transformation journey and establishing their digital presence .
“ Digitalisation is one of the most important investments a business can make in these times of change to create brand awareness and drive more sales .
“ SMEXpert is developed for SMEs to leverage on the vast wealth of available resources and opportunities to grow their business with the right business knowledge , financial support and access to local and international halal market outreach platforms ,” shared Rizal .
Unlike conventional banks that only provide financing , he said Bank Islam would get its customers on board into the digital halal ecosystem , where they can expand their market reach and open up new possibilities and market opportunities they have not seen previously .
In SMEXpert , SMEs can browse through various business resources guides , including articles , economic reports , and webinar videos . They can also find the best financing options that meet their business needs at any stage , aside from enjoying discounts for products and services from Bank Islam ’ s merchant partners .
“ As the Bank ’ s SME clientele , they can be on-boarded as merchant partners on the platform and promote their products ,
SME EXPORTER FINANCING PROGRAM
Product Features
• Business Financing-i , Cash Line-i , Multi Trade Facility & Foreign Exchange Contract-i ( FEC-i )
• For Working Capital Requirement ( WCR ) and / or Capital Expense ( CAPEX )
• Up to RM5 million of financing amount per Sdn . Bhd . ( SME )
• Up to RM1 million of financing amount ( Sole- Proprietorship / Partnership )
• Up to 9 years for Business Financing-i
• Up to 80 % guarantee coverage by Syarikat Jaminan Pembiayaan Perniagaan ( SJPP ) on Working Capital and / or CAPEX
• Margin of Finance : -
• WCR – Up to 100 %
• CAPEX – Up to 90 % from Supplier / Vendor Invoices
• FEC-i - 10 % from the total Trade facilities services and events at no cost or commission fee .
“ MATRADE members who take up the SME Exporter Financing Programme will benefit as users and merchants of SMEXpert . They can increase their brand visibility and gain access to potential clients , vendors and stakeholders from Bank Islam ’ s digital platform , which will help expand their business network and market opportunities .
To become a merchant partner on SMEXpert , SMEs will need to open a business current account with Bank Islam .
“ It is the key eligibility ,” shared Rizal , adding that Bank Islam wanted SMEXpert to become an aggregator for all SMEs , and it would one day graduate into a business matching platform .
Shareholding by Public Listed Companies and Government Linked Companies ( if any ) in the SMEs shall not exceed 20 %
Eligibility Criteria
Business in operation for at least 2 years
Other strategic collaborations and financing packages
Being one of the enablers for SMEs ’ growth , Bank Islam has come up with various financing packages for SMEs and also partners w i t h
MUST be a registered MATRADE Member
SMEXpert mobile app is available for download from Google Play , Apple Store and Huawei App Gallery .
SMEXpert is developed for SMEs to leverage on the vast wealth of available resources and opportunities to grow their business with the right business knowledge , financial support and access to local and international halal market outreach platforms .”
– Rizal Yusof
Registered with Companies Commission of Malaysia either under the Registrar of Business Act ( 1956 ) or the Companies Act 1965 and / or the Companies Act 2016 or Limited Liability Partnership Act 2012 ( private limited , sole proprietorship and partnership ); or
Respective authorities or district offices in Sabah and Sarawak
Private Limited Company , Partnership and Sole Proprietor and must fall within SME definition prominent stakeholders , namely the Halal Development Corporation ( HDC ), SME Corporation Malaysia ( SME Corp Malaysia ) and the Malaysian Investment Development Authority ( MIDA ).
“ The collaboration with HDC is to support the halal industry development and pave the way for local businesses to tap into the larger halal export markets and participate in the nation ’ s halal digital transformation initiatives .
“ The collaboration with SME Corp Malaysia is to jointly facilitate the implementation of development programmes , financial support and guidance for SMEs across all related ministries and agencies .
“ Meanwhile , the one with MIDA is to accelerate SMEs ’ shift towards high-valueadded , high technology , knowledge-intensive and innovation-based industries ,” he said .
Rizal emphasised that these initiatives were put in place by Bank Islam to provide comprehensive Islamic financial solutions and a holistic halal ecosystem for the Bank ’ s SME customers . They are also part of the Bank ’ s efforts to ensure the growth of Malaysian SMEs and support the Halal Development Agenda .
He shared that Bank Islam also offers other financing programmes such as the Domestic Investment Strategic Fund ( DISF ), Go Halal SME Financing Programme , SME Automation and Digitalisation Facility ( ADF ) and All Economic Sector Facility ( AES ).
“ We will continuously provide support to address SMEs ’ needs as they change according to the economic climate .”
Rizal also revealed that the Bank would soon launch a green financing product to support green initiatives .
Objectives of the SME exporter financing programme
• Provide total financial solutions to SME businesses , specifically emphasising on export-enabled SMEs , through MATRADE .
• Expand market outreach of SME businesses on a broader scale .
• Support the Malaysian Government ’ s initiative in promoting growth in the halal industry development .
• Increase trade emplacement and utilisation by granting the financing to eligible exporters under MATRADE .