Wednesday, July 6, 2022
The Indian government is determined to rev up the SME sector to achieve inclusive growth and self-reliance, as it contributes roughly 30 percent of India’s GDP, employs around 110 million people, accounts for nearly 40 percent of total exports, and more than half of them are based in rural...
With prolonged global trade disruptions accelerating the demand for digital services to strengthen supply chains, DBS is intensifying its efforts to digitalise financing capabilities offered through trade platforms, potentially benefiting more than 15,000 SMEs across Asia by end of 2022. According to the DBS Digital Readiness Survey, 97% of businesses...
The Vietnam Chamber of Commerce and Industry (VCCI) says in its latest provincial competitiveness index (PCI) report that 46.85 percent of SMEs surveyed said they had difficulties in accessing bank loans in 2021. The figure was higher than the 40.73 percent in 2020. The biggest obstacle for enterprises to access...
Funding Societies has launched Elevate, a virtual card solution for SMEs in Singapore. The card is available on a credit line on the FinTech platform's website and mobile app and entitles qualified SMEs to interest-free credit for a period of up to 55 days. Unlike bank alternatives, no personal guarantees...
Affin Bank Bhd has won Outstanding Digital CX for Financial Inclusion for their SME Colony mobile app at the Digital CX Awards 2022. This win marks the third consecutive recognition from the Digital CX Awards for the bank’s capabilities in serving  SMEs digitally. Organised by The Digital Banker, the coveted...
Boost has become the first fully digital financier in Southeast Asia to secure an investment-grade A1 rating from RAM Ratings for its maiden tranche of Senior Class A Medium Term Notes (MTN) of securitised financing receivables. The rating underscores Boost’s capabilities and competencies in accelerating financial inclusion through Boost Credit...
Banks in Hong Kong are optimistic on their financial performance in 2022 with higher interest rates likely to improve margins, global business consultancy KPMG said in its latest report. Non-interest revenue should also increase as initiatives such as the Cross-Boundary Wealth Management Connect scheme offer new growth opportunities. Paul...
Alliance Bank Malaysia Bhd (Alliance Bank) is optimistic of providing an additional RM200 million in digital loans this year to help SMEs overcome the pandemic challenges and grow their business. Eligible SMEs can obtain up to RM500,000 collateral-free financing via a simple online process that only requires the submission of...
HSBC Malaysia has launched the HSBC Global Wallet, Malaysia’s first multi-currency digital wallet that enables SMEs to make and receive international payments with ease and confidence from one single global account. As international borders open up and global trade rebounds, stronger participation in global markets by Malaysian SMEs will bring...
Funding Societies has introduced its Shariah-compliant trade financing solutions based on Commodity Murabahah (Tawarruq) for creditworthy and underserved Malaysian SMEs seeking to grow their business as the country reopens its economic sectors. The introduction of Shariah-compliant financing complements Funding Societies’ existing broad range of financing products to serve creditworthy SMEs...
  CIMB Bank Bhd and CIMB Islamic Bank Bhd have committed RM100 million in financing through the Low Carbon Transition Facility to encourage SMEs to adopt low carbon and sustainable practices for business resilience. This facility is part of the LCTF financing scheme established by Bank Negara Malaysia (BNM) in January...
Validus, a Singapore-based lending platform for SMEs, is acquiring CitiBusiness’ loan portfolio for an undisclosed amount to bolster its top-line revenue and customer base and expand its growing loan book.  Nikhilesh Goel, co-founder and Group CEO of Validus, told TechCrunch that Validus expects to create synergies with the loan portfolio...

Follow Us

174,876FansLike
807FollowersFollow