Bank Rakyat Seeks To Offer RM50mil In Micro-Financing To Help Entrepreneurs

It has recently been announced that Bank Rakyat will be making around RM50 million in micro-financing available to entrepreneurs and micro-businesses this year. Deputy Entrepreneur Development and Cooperatives Minister, Datuk R. Ramanan said this is part of the bank’s continued support of the micro, small and medium enterprise (MSME) sector.

“This dedication to providing financial help to more entrepreneurs and small businesses is key to meeting the government’s objective of eradicating extreme poverty,” he said at a press conference at Menara Kembar Bank Rakyat.

He also mentioned that the bank disbursed the same amount to 1,856 entrepreneurs and micro-businesses last year. It was also stressed that such financing was crucial in helping MSMEs enhance their competitiveness while aligning with the government’s goal of internationalising them.

Bank Rakyat’s chief executive officer, Datuk Dr Mohammad Hanis Osman was also present at the press conference. He told the media present that the bank was also fully committed to providing expert guidance and effective business management facilities, especially to under-served communities.

“We will continue to work closely with MSMEs to eventually help them graduate from a micro business into a small business. That is our ultimate goal,” he said.