Export-Import Bank of Malaysia (EXIM Bank) and the Malaysian Franchise Association (MFA) signed a Memorandum of Understanding (MoU) on 12 March. The MoU promotes cooperation and coordination between EXIM Bank and MFA, particularly with regards to provide promotional, financial and knowledge support to eligible franchise players venturing abroad.
Y. Bhg. Dato’ Adissadikin Ali, MD/CEO of EXIM Bank signed the agreement on behalf of EXIM Bank while MFA was represented by its Chairman, Abdul Malik Abdullah. Present to witness the signing was Y. B. Datuk Rohani Abdul Karim, Deputy Minister of Domestic Trade, Cooperative and Consumerism.
Speaking at the event, Adissadikin said, “This collaboration with MFA is a testament to EXIM Bank’s commitment towards supporting SMEs’ cross-border ventures. Getting to know the franchise players also benefits EXIM Bank, with its various facilities and global advisory capacity to assist them.”
“One such facility is MalaysiaKitchen Financing Facility which can assist those eligible in obtaining funds for the purpose of setting up or expanding existing Malaysian restaurants overseas,” added Adissadikin.
Commenting on the collaboration, Abdul Malik Abdullah shared, “The signing of this MoU with EXIM Bank is indeed a significant step towards taking local franchise business to a higher level. We are looking forward to embark on this exciting journey with EXIM Bank to contribute and further enhance the local and global franchise market.”
At present, there are 603 franchise brands in Malaysia and some 6,000 franchisees nationwide. Secret Recipe and Marrybrown are some of the homegrown brands that have penetrated the international market through this collaboration.
The Export-Import Bank of Malaysia Berhad (EXIM Bank) was incorporated on 29 August 1995 and is wholly-owned by the Government of Malaysia. The Bank has assisted a diverse range of Malaysian businesses in an equally diverse range of sectors in their global ventures.
The Malaysian Franchise Association was formed in 1994 to support the implementation of the Government program to promote entrepreneurship through franchising.