SME Bank and Lembaga Tabung Haji Seal Strategic MOU to Grow MSME Ecosystem

KUALA LUMPUR: 12 August 2024 – SME Bank and Lembaga Tabung Haji (Tabung Haji) have signed a Memorandum of Understanding (MoU) to provide enhanced support to MSMEs through tailored financial solutions and comprehensive capacity-building programs.

SME Bank’s Relief Group President/Chief Executive Officer, Datuk Dr. Mohammad Hardee Ibrahim said, “This partnership aims to create a significant impact in the Malaysian MSME sector by bridging SME Bank’s Shariah-compliant financing solutions and expertise to Tabung Haji’s extensive network. Together, we will deliver the right financing and capacity-building programmes to local vendors and entrepreneurs. By expanding our reach, we aim to foster sustainable economic growth for MSMEs enhancing their opportunities and success in alignment with Shariah principles.”

Under the MoU, Tabung Haji will promote relevant SME Bank programs to its potential vendors, while SME Bank, through its subsidiary, the Centre for Entrepreneur Development and Research Sdn. Bhd. (CEDAR), will develop and promote capacity-building programs for eligible Tabung Haji-registered vendors. Additionally, both parties will explore and propose structured financing schemes tailored to the specific needs of eligible Tabung Haji-registered vendors. Furthermore, both organisations will work together to organise conferences, seminars, talks, and marketing activities, as well as participate in joint training and development programs for eligible registered vendors. This collaboration is set to provide MSMEs with the necessary tools and resources to thrive in a competitive market. By integrating Shariah principles into their business practices, both institutions reaffirm their commitment to ethical standards and sustainable growth.

Datuk Dr. Hardee added, “Our subsidiary, CEDAR, which has trained over 82,000 entrepreneurs to date, will provide comprehensive entrepreneurship and capacity-building programs designed to enhance the capabilities of our nation’s MSMEs. These initiatives will also incorporate best practices in Environment, Social, and Governance (ESG) through targeted coaching and advisory programmes.”

Lembaga Tabung Haji Group Managing Director/Chief Executive Officer, Syed Hamadah Syed Othman, emphasised the strategic importance of this collaboration, stating, “With over 10 subsidiaries spanning various sectors, Tabung Haji is well-positioned to channel significant resources and expertise into this partnership. This MoU is not just about financial support; it's about creating a robust ecosystem for MSME growth. We are committed to leveraging our extensive network and capabilities to ensure our registered vendors gain the necessary skills and opportunities to expand and continue their long-term support for Tabung Haji and its business operations.”

The MoU between SME Bank and Lembaga Tabung Haji was signed by SME Bank Relief Group President/Chief Executive Officer, Datuk Dr. Mohammad Hardee Ibrahim and representatives from Lembaga Tabung Haji; Group Managing Director/Chief Executive Officer, Syed Hamadah Syed Othman, witnessed by Deputy Minister of Entrepreneur Development and Cooperatives (MECD), Dato' Ramanan Ramakrishnan and Deputy Secretary General (Entrepreneur Development), Ministry of Entrepreneur Development and Cooperatives, Datuk Haji Zamri Salleh.

SME Bank embraces strategic collaborations, reaffirming its commitment to empowering MSMEs and significantly contributing to the nation's economic prosperity in line with the MADANI economy framework. For further details on SME Bank’s programs and initiatives, please visit www.smebank.com.my, SME Bank's Facebook page, or contact SME Bank’s Contact Centre at 603-26037700.