Maybank to facilitate SME growth with RM12 billion disbursement

Maybank aims to disburse RM12 billion to finance small and medium enterprises this year, to help facilitate their growth, according to its group president and CEO, Khairussaleh Ramli who was speaking to Bernama.

Ramli said that Maybank has been facilitating payments to assist its borrowers, especially low-income households and small businesses who are in need of repayment assistance.

He told Bernama that Maybank has provided repayment assistance to more than 430,000 borrowers in Malaysia since the pandemic. It currently has 52,000 borrowers that have been provided with different forms of active repayment assistance.

This comes in conjunction with Malaysian Prime Minister, Anwar Ibrahim, calling on banks to continue offering loan repayment assistance to individuals and SMEs in need, which include assistance in scheduling and the restructuring of loans.

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In accordance with PM Anwar, Ramli said that Maybank has fully supported the government’s efforts in ensuring a healthy and stable economic environment for businesses and individuals to thrive, noting that the bank will remain steadfast in supporting its customers and clients by leveraging its expertise in the financial sector.

This, he said, has been enhanced by its digital capabilities. He told Bernama that Maybank’s digital platforms are currently serving multiple customer segments, ranging from institutional corporates, SMEs to retail consumers.

Recently, Maybank launched a cross-border quick response (QR) payment service. Now, customers traveling to Singapore, Indonesia and Thailand can make cashless and instant payment transactions via Maybank’s MAE app.

Maybank’s group chief executive officer of community financial services, John Chong said that the cross-border QR payment service is an essential feature that facilitates travel for Malaysians abroad, as well as tourists coming into Malaysia to conduct cashless payments through their respective country’s currency.

Chong went on to add that this update also serves as a key to improving efficiency while promoting the digital economy and financial inclusion in the ASEAN region.

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