6 days ago
- Business
- New Straits Times
OCBC Al-Amin, CGC ink RM100mil portfolio guarantee-i deal
KUALA LUMPUR: OCBC Al-Amin Bank Bhd has signed a RM100 million Islamic portfolio guarantee-i (PG-i) agreement with Credit Guarantee Corporation Malaysia Bhd (CGC) to support the growth of Bumiputera and women-led enterprises.
Prior to this, OCBC Al-Amin had already disbursed a total of RM268 million in PG-i schemes with CGC since 2017.
The latest PG-i tranche comes without the need for collateral for up to 50 per cent of the approved financing amount. Maximum financing is RM600,000 for a tenure of up to seven years.
OCBC Al-Amin chief executive officer Syed Abdull Aziz Syed Kechik said the bank will channel RM100 million in financing to foster inclusive economic growth by empowering Bumiputera and women entrepreneurs.
"Through targeted financial solutions and strategic partnerships, we aim to enhance access to financing and market opportunities for SMEs led by these communities.
"We look forward to nurturing sustainable business growth, driving innovation and unlocking the full potential of Malaysia's diverse business community," he said.
CGC president and chief executive officer Datuk Mohd Zamree Mohd Ishak added that the partnership will create a more inclusive and resilient entrepreneurial landscape.
He said the new RM100 million PG-i tranche reflects a push to channel financing where it can generate meaningful economic impact.
"By focusing on Bumiputera and women-led MSMEs, we are not only addressing financing gaps but also empowering segments that are vital to Malaysia's future growth," he added.
Syed Abdull Aziz added that the PG-i is available to SMEs via OCBC Al-Amin's Entrepreneur Fund-i.
"Our approach provides greater convenience to those seeking financing, as it quickens the process of securing it, allowing them to focus then on implementing their business growth plans," he said.
