09 November 2020
EXIM BANK MALAYSIA LAUDS THE GOVERNMENT’S MOVE TO IMPROVE SME’S ACCESS TO FINANCING THROUGH JANA NIAGA

Kuala Lumpur, Malaysia 9 November 2020 – Export-Import Bank of Malaysia Berhad (“EXIM Bank”) welcomes the Government’s recently tabled Budget 2021, as it lives up to its theme of “Resilient As One, Together We Triumph” that continues to protect the Rakyat’s lives and livelihood above all else, amid the backdrop of the COVID-19 pandemic.
 
Aware of the challenges faced by the business community in the country, EXIM Bank supports the various initiatives outlined by the Honourable Finance Minister Datuk Seri Tengku Zafrul Abdul Aziz in his budget speech, particularly on the measures to improve access to financing in the budget.
 
Among them is the introduction of a National Supply Chain Finance Platform, called “Jana Niaga”, which is set to assist the financial position of small and medium enterprises (SMEs) that supply to the Government or Government-Linked Companies (GLCs). An initiative to be spearheaded by EXIM Bank, the platform will benefit SMEs with cash flow issues due to long invoice payment periods, as well as help them secure loans.
 
EXIM Bank’s Chairman Dato’ Dr Feizal Mustapha said: “The Bank thanks the Government on the opportunity rendered to spearhead the access to financing initiative, through the Jana Niaga Platform, in ensuring the well-being of SMEs in the country. This targeted assistance will surely support them to continue operations, with an uninterrupted ability to supply to their customers.”
 
The RM300 million Jana Niaga initiative will see EXIM Bank driving the said platform, with the involvement of several financial institutions. For a start, Jana Niaga will be implemented together with Petronas (Petroliam Nasional Bhd) and Telekom Malaysia Bhd. It will then be extended to other GLCs, ministries and government agencies in the future. The framework for the platform, together with the operational details, will be revealed in due course.


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ABOUT EXIM BANK

The Export-Import Bank of Malaysia Berhad (EXIM Bank) was incorporated on 29 August 1995 and is wholly-owned by the Government of Malaysia. The Bank has assisted a diverse range of Malaysian business in various sectors in their global ventures. EXIM Bank takes pride in meeting its mandated role of stimulating and enhancing the competitiveness of Malaysian industries for exports and investments globally via the provisioning of internationally and domestically competitive banking and insurance products and advisory services. The Bank also offers Shariah-compliant financing and Takaful instruments. For more information, visit www.exim.com.my.

 

MEDIA CONTACT FOR EXIM BANK

Azmin Hamzah
Head, Corporate Communication Department
Export-Import Bank of Malaysia Berhad
T : +603 2601 2371
F : +603 2601 2469
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W : www.exim.com.my
Mohd Ronnee Osman
Manager, Corporate Communication Department
Export-Import Bank of Malaysia Berhad
T : +603 2601 2397
F : +603 2601 2469
E : This email address is being protected from spambots. You need JavaScript enabled to view it.
W : www.exim.com.my