SME Bank Malaysia Berhad (SME Bank), the lead implementing agency for the Ministry of Entrepreneur and Cooperatives Development (MECD), reaffirmed its commitment to empowering SMEs in the Halal industry by participating in the 20th Malaysia International Halal Exhibition (MIHAS) 2024.
SME Bank has been an active supporter of MIHAS since 2013, and this year’s event featured 26 Halal entrepreneurs and 14 local franchise companies. SME Bank’s clients also showcased their offerings at MECD’s pavilion, reinforcing the bank’s long-standing role in promoting Malaysia’s Halal economy.
“We are honored to be part of MIHAS 2024, supporting MECD’s investment target of RM80 million for this year. MIHAS is a strategic platform to showcase key initiatives like the Business Export Programme (BEP), SME Bank Umbrella Programme, HalalBiz Financing, and the Capacity & Capability Development Programme (PPKV),” said Datuk Dr. Mohammad Hardee Ibrahim, Acting Group President/CEO of SME Bank.
He emphasized that the HalalBiz Financing, a key element in the National Budget 2024, aims to boost Halal exports and further position Malaysia as a global leader in the Halal economy.
Empowering SMEs in the Halal Segment
SME Bank has launched several initiatives to support SMEs in the Halal industry, such as the Halal Innovation & Technology Programme, Halal Entrepreneur Internationalisation Programme, and the Halal Product Capacity Development Programme. These initiatives have been supported by RM8.5 million in grants allocated for 2023–2024.
“SME Bank continues to play a catalytic role in supporting SMEs, which are the backbone of Malaysia’s economy. We are committed to energizing the market with upcoming initiatives like FOODEX KANSAI 2024 in Japan, the 21st CAEXPO in China, and MIHAS 2024 in Dubai,” added Dr. Hardee. The bank’s “Let’s Engage” programme further accelerates Halal business growth.
Export Acceleration Mission and Global Outreach
Through its Export Acceleration Mission (EAM) and Business Export Programme (BEP), SME Bank has generated over RM74 million in incremental export sales since 2020, with 65% of participating companies entering new markets.
The BEP, in collaboration with MATRADE and MECD, has supported 84 companies and secured RM154.94 million in new financing approvals for high-potential SMEs.
At the SME Bank XCESS 2024 event, local SMEs successfully garnered RM40 million in sales, with potential future sales projected at RM138 million, providing businesses with opportunities for global growth.
For more information on SME Bank’s initiatives, visit www.smebank.com.my or contact SME Bank’s Contact Centre at 603-26037700.