Microsoft Cloud Solutions
Date: 27 March 2020
In relation to the Bank Negara Malaysia’s drive to encourage SME to adopt higher level of digitization and automation to avoid future business disruptions and higher productivity, BNM has launched several initiatives such as the Automation and Digitalization Facility (ADF), All Economic Sectors Facility (AES), Special Relief Facility (SRF) COVID-19, Agrofood Facility (AF) and Micro Enterprises Facility (MEF).
In summary the features of the BNM’s Fund for SME’s Financing Facilities are as follow:
The ADF, AES, SRF, AF and MEF were announced as part of the first economic stimulus package on 27 February 2020. Since these facilities were made available on 6 March 2020, participating FIs have approved a total of RM119 million of financing to 196 SMEs, with an approval rate of 84%.
Participating FIs will continue to process the applications received under these facilities, although there may be some delays in the applications and disbursements process due to the limitations arising from the Movement Control Order. Read more.
REFERENCE
Source: Bank Negara Malaysia, 2020
Source Links:
(1) Notice and Announcement: BNM’s Fund for SME’s Financing Facilities to Assist SMEs affected by COVID-19
(2) Additional Measures to Further Support SMEs and Individuals Affected by the COVID-19 Outbreak
(3) Features of BNM’s Financing Facilities to Assist Malaysian SMEs
© All right reserved | 2020 Advance Infosys Global Sdn Bhd
Co. Reg : 200201017410 (585073-U)
907 & 910, 9th Floor, Lobby 2, Block A, No 1, Jalan SS20/27, Damansara Intan, 47400 Petaling Jaya, Selangor, Malaysia
Tel: +603 7625 8868 / +603 7728 9688 | Fax: +603 7727 6833