Maybank, one of Malaysia’s leading banking institutions, plans to disburse RM12 billion this year for financing small and medium enterprises (SMEs), according to Group President and CEO, Khairussaleh Ramli. The initiative aims to aid SMEs’ growth, essential for the overall health of Malaysia’s economy.
While addressing the current economic hardship due to the pandemic, Ramli stated that Maybank has been instrumental in facilitating payments for its borrowers, especially low-income households and small businesses requiring repayment assistance. So far, Maybank has extended repayment aid to over 430,000 borrowers in Malaysia, with around 52,000 borrowers receiving various forms of active repayment support.
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These initiatives align with Malaysian Prime Minister, Anwar Ibrahim’s appeal to banks to continue providing loan repayment assistance to individuals and SMEs in need, encompassing loan restructuring and rescheduling.
Endorsing PM Anwar’s call, Ramli emphasized Maybank’s unwavering commitment to maintaining a robust and stable economic environment for businesses and individuals. The bank aims to leverage its financial sector expertise to steadfastly support its customers and clients.
In keeping pace with technological advancements, Maybank is capitalizing on its digital capabilities to offer diverse and convenient financial solutions to its customers. The bank’s digital platforms cater to various customer segments, from institutional corporates and SMEs to retail consumers.
Maybank has also launched a cross-border quick response (QR) payment service recently. This service allows customers traveling to Singapore, Indonesia, and Thailand to conduct instant, cashless payment transactions via Maybank’s MAE app.
John Chong, Maybank’s Group Chief Executive Officer of Community Financial Services, underscored the critical role this cross-border QR payment service plays in facilitating travel for Malaysians abroad and tourists visiting Malaysia. The service allows users to make cashless payments in their home country’s currency, promoting efficiency and boosting the digital economy and financial inclusion across the ASEAN region.
This news is based on a report by Marketing Interactive.
