The Bank Negara Malaysia logo is seen in Kuala Lumpur November 9, 2019. The central bank has increased its allocation for BNM’s Fund for SMEs by an additional RM4 billion. — Picture by Miera Zulyana
“The maximum financing rate is now lowered to 3.50 per cent per annum from 3.75 per cent p.a. The enhanced SRF is available until December31, 2020,” the central bank said in a statement today. Since these facilities were made available on March 6, 2020, participating financial institutions have approved a total of RM119 million of financing to 196 SMEs, with an approval rate of 84 per cent, it added.
“The initial programme optimises zakat and microfinancing arrangement, and will include cash waqf at the later stage,” it said.
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