SME Bank Renews Collective Agreement with National Union of Commercial Workers
KUALA LUMPUR: 23 September 2024 – SME Bank Malaysia Berhad (“SME Bank”) and the National Union of Commercial Workers (“NUCW”) recently signed a renewal of the Collective Agreement (“CA”) for the period of July 2022 to June 2025.
Datuk Dr. Mohammad Hardee Ibrahim, Acting Group President/Chief Executive Officer of SME Bank said, “Our people have been the backbone of our success in delivering our mandate to create value for the SME ecosystem beyond financial services. In line with our SMILE core values, we are dedicated to fostering an environment that prioritises the welfare and wellbeing of our employees. This renewal will include an improved salary package and a boost in monthly living allowances to support our employees manage the rising cost of living.”
This renewal of the CA was approved by the Ministry of Finance Incorporated Malaysia on 26 August 2024 will benefit 127 SME Bank non-executive employees, which will bring enhancements to their employment terms and conditions.
Representing SME Bank's non-executive employees, Muhammad Nazrul Nizar Zulkifli, President of NUCW said, “We are pleased to extend our agreement with SME Bank through the new CA and we sincerely thank SME Bank’s leadership for their steadfast commitment in ensuring the welfare and wellbeing of the Bank’s non-executive employees are well taken care of. We look forward to fostering a meaningful relationship with SME Bank.”
The signing of the SME Bank CA was formalised between Datuk Dr. Mohammad Hardee Ibrahim, Acting Group President/Chief Executive Officer of SME Bank; Shuhaibahtulaslamiah Hurmuzan, Group Chief Human Capital Officer of SME Bank; Muhammad Razif Mahaboob, Head of Industrial Relations of SME Bank together with Saipul Mat Ramli representing SME Bank’s staff. Meanwhile, representing NUCW were Jil Afril Jamaluddin, General Secretary of NUCW and T.M Rajeswaran, Executive Secretary of NUCW.
Reflecting the core values of the Madani framework—Prosperity, Respect, and Compassion—SME Bank remains committed to supporting the Government’s vision of fostering a civilised, skilled, and inclusive society. With a workforce of 1,155 employees and 19 branches nationwide, SME Bank has approved RM46 billion in financing to over 24,000 customers since its establishment in 2005. Additionally, its wholly owned subsidiary, the Centre for Entrepreneur Development and Research Sdn. Bhd. (“CEDAR”) has provided entrepreneurship training to more than 83,200 participants since its establishment in 2013.
