SME Bank Fuels Halal Industry Growth At The 20th Malaysia International Halal Exhibition 2024

KUALA LUMPUR: 20 September 2024 – SME Bank Malaysia Berhad (“SME Bank”), the lead implementing agency for the Ministry of Entrepreneur and Cooperatives Development’s (“MECD”) pavilion continues to reaffirm the Bank’s mandate to empower and enable SMEs in the Halal industry by once again participating in the 20th Malaysia International Halal Exhibition (“MIHAS”) 2024.

SME Bank has been a strong supporter of the world’s largest Halal showcase and has actively participated in MIHAS since 2013 and this year’s edition comprised 26 Halal entrepreneurs and 14 local franchise companies. SME Bank’s customers also participated in the exhibition, showcasing their products and offerings at the MECD’s pavilion.

Datuk Dr. Mohammad Hardee Ibrahim, Acting Group President/Chief Executive Officer of SME Bank said, “We are honoured to be participating in MIHAS 2024 once again, supporting MECD’s potential investment target of RM80 million for this year’s edition. As part of our ongoing efforts to help SMEs in the evolving Halal industry, MIHAS 2024 is a strategic platform to showcase our key initiatives, including the Business Export Programme (“BEP”), SME Bank Umbrella Programme, HalalBiz Financing, and the Capacity & Capability Development Programme (“PPKV”). These initiatives reaffirm the national aim to position Malaysia as a leader in the Halal Economy,  particularly the HalalBiz Financing as we are one of the proud financial institutions mandated in the National Budget 2024 to mobilise this programme in support of the growth of our exports in the Halal segment.”

At present, SME Bank has been entrusted to mobilise various programmes to further catapult SMEs in the Halal segment. These include the Halal Innovation & Technology Programme, Halal Entrepreneur Internationalisation Programme, Capacity Building Programme for Halal Industry Entrepreneurs and the Halal Product Capacity Development Programme, which has accumulative grant allocations of approximately RM8.5 million within the year 2023–2024.

“SME Bank has always played a catalytic role in the growth of SMEs as they are the backbone of the country, making up a huge portion of the businesses today. Through our affirmative financing and capacity-building initiatives, we take pride in being the conduit and the driving force in helping them realise their aspirations. We look forward to energising the market with our upcoming initiatives, including trade exhibitions like FOODEX KANSAI 2024 in Japan, the 21st CAEXPO in China, and MIHAS 2024 in Dubai. Additionally, our 'Let’s Engage' programme aims to accelerate the growth of Halal businesses,” Datuk Dr. Mohammad Hardee Ibrahim elaborated.

SME Bank has made great strides under its Export Acceleration Mission (“EAM”), supporting the vibrancy of the Halal industry in view of the growing global demand in this market.  As of 31 August 2024, the Bank’s BEP, a structured intervention programme in collaboration with MATRADE and funded by MECD, has received a total funding of RM15 million and has onboarded 84 companies since its inception in 2020. 48 companies have graduated from the programme recently. The programme has generated over RM74 million in incremental export sales, with 65% of the companies successfully entering new export markets and countries. The BEP has also facilitated international market exploration for Malaysian SMEs by organising more than 15 EAM in countries including the UAE, Philippines, China, Japan, Thailand, the UK, Germany, and the USA. Additionally, the programme has identified high-potential companies, resulting in RM154.94 million of new and additional financing approvals for SME Bank.

Recently, the SME Bank XCESS 2024, a flagship event designed to propel Malaysian SMEs into the global market successfully garnered approximately RM40 million in total sales to-date with a potential sales projection of approximately RM138 million. This year’s edition facilitated connections between local businesses and 24 buyers from 12 countries, offering a platform for business matching, networking, and showcasing opportunities that pave the way for international growth and expansion.

For further details on SME Bank’s programmes and initiatives, please visit www.smebank.com.my, SME Bank's Facebook page, or contact SME Bank’s Contact Centre at 603-26037700.