Caption: Standing from left to right:
En. Mazuin Ismail, Senior Vice President, Project Delivery and Technology, PETRONAS; Puan Norliza Nawi, Senior General Manager, Corporate Project, PETRONAS; Tan Sri Wan Zulkiflee Wan Ariffin, President and Group Chief Executive Officer, PETRONAS; En. Samsudin Miskon, Vice President, Group Procurement, PETRONAS; En. Abdul Rashid Abdul Hamid, Head, Commercial Banking, Bank Islam; En. Chen Yin Heng, Senior General Manager, SJPP; Datuk Zamani Abdul Ghani, Chairman, Bank Islam; Dr. Nungsari Ahmad Radhi, Principal Officer, SJPP; En. Khairul Kamarudin, Chief Executive Officer, Bank Islam; Puan Juanita Rusmini Abdul Jalil, General Manager, SJPP; Puan Noorshiha Mohammad, Assistant General Manager, SJPP.


KUALA LUMPUR, May 7 (Bernama) -- Bank Islam Malaysia Berhad (“Bank Islam”) today signed a Memorandum of Understanding (“MOU”) with Petroliam Nasional Berhad (“PETRONAS”) and Syarikat Jaminan Pembiayaan Perniagaan Berhad (“SJPP”) to provide financial solution to PETRONAS vendors nationwide via SME Vendor Financing Programme aimed at benefitting the local Oil & Gas Services and Equipment (“OGSE”) sector. 
 
SMEs makes up 97% of total business establishment in Malaysia and 65% of Malaysia’s employment.  This segment contributes 36% of Gross Domestic Product (GDP) of the country and 18% of Malaysia’s export.  As at March 2018, Bank Islam has financed 1,235 SME customers with a total financing of approximately RM2.9 billion.  With the aim of improving access to financing and liquidity to the OGSE players, Bank Islam, PETRONAS and SJPP collaborate via the SME Vendor Financing Programme, open to Malaysian SMEs, which have contracts with PETRONAS and are in compliance with Bank Islam’s credit assessment and SJPP’s eligibility and criteria.
  
Signing on behalf of PETRONAS was the Vice President of Group Procurement, Encik Samsudin Miskon and Bank Islam was represented by the Head of Commercial Banking, Encik Abdul Rashid Abdul Hamid. SJPP was represented by its Senior General Manager, Mr. Chen Yin Heng.
 
The signing ceremony was witnessed by Tan Sri Wan Zulkiflee Wan Ariffin, President and Group Chief Executive Officer of PETRONAS; Encik Khairul Kamarudin, Chief Executive Officer of Bank Islam and Dr. Nungsari Ahmad Radhi, Principal Officer of SJPP.
 
Encik Khairul Kamarudin said, “Bank Islam has been taking realistic approach towards designing innovative products to meet the need of the Small Medium Enterprises (“SMEs”). Through this partnership, we are able to serve the real economy which represents one of our value-based intermediation initiatives as well as to support the government’s initiative to enhance and stimulate the SME business growth in this country. We are also committing ourselves to looking after the larger enterprises and communities, thus contributing towards economic resiliency and social wellbeing.” 
 
PETRONAS Senior Vice President of Project Delivery & Technology, En Mazuin Ismail said: “PETRONAS initiated this collaboration as part of the many efforts undertaken to sustain and maintain the resiliency of the Malaysian OGSE sector. We value the partnership that we have entered today with Bank Islam and SJPP which we believe will ease the challenges faced by the OGSE vendors.”
 
As part of the initiative, SJPP, a wholly owned agency under the Ministry of Finance, will act as the credit guarantee provider. SJPP will support the programme by providing up to 70 percent credit guarantee to eligible OGSE SME vendors in obtaining financing facilities. As a collaboration partner, PETRONAS’ role is solely to promote the financing facility to its SME vendors, as well as validate the vendors’ information and contracts.
 
Dr. Nungsari Ahmad Radhi, Principal Officer of SJPP said, “The Government is committed to support the SME businesses and has been providing continuous support in developing SMEs via various initiatives, products and services, including the various Government guarantee schemes managed by SJPP. To date, 15,780 SMEs have benefited from the various schemes under SJPP. We welcome any collaboration with Financial Institutions (“FIs”) and other parties that can fit our mandate to assist and reach out as many SME market players as possible since SME industry is targeted to contribute 41% towards the economy by 2020 as stated in the SME Masterplan.”
 
Bank Islam is committed to be part of the financial ecosystem in providing financial solutions to the OGSE vendors. We are keen to provide financing option to the vendors, as one of the many ways it can add value to the sector. The Bank takes great pride in its innovative approach towards client servicing by offering the most extensive network coverage and capabilities to support OGSE sector’s requirements. This programme also helps promote its existing products particularly financing facilities that cater to the needs of SME customers for their specific procurement or contract.
 
For further information, please visit www.bankislam.com.my
 
About Bank Islam Malaysia Berhad
 
Bank Islam Malaysia Berhad was established in 1983 as the nation’s first Islamic bank. To date, the Bank has a network of 147 branches and more than 1100 self-service terminals nationwide. To meet the diversity of the public’s financial needs, Bank Islam offers more than 70 Shariahbased banking products and services which cater to Muslims and non-Muslims. For more information on Bank Islam products and services, visit www.bankislam.com.my or call Bank Islam Call Centre at 03-26 900 900. 
 
About PETRONAS
 
Petroliam Nasional Berhad (PETRONAS) is Malaysia’s fully integrated oil and gas multinational ranked amongst the largest corporations on FORTUNE Global 500®. Operating our core business in the Upstream and Downstream sectors, we steadily drive for new solutions and push boundaries to deliver essential energy to people. A responsible corporate citizen, we endeavour to contribute to the wellbeing of society by adding value to oil and gas resources in a manner that carefully balances commercial, environmental and social considerations.
  
About SJPP
 
Syarikat Jaminan Pembiayaan Perniagaan Berhad (SJPP) is a company wholly owned by the Minister of Finance Incorporated. SJPP's role is to administer and manage various Government guarantee schemes, namely the Working Capital Guarantee Scheme, Industry Restructuring Financing Guarantee Scheme, 10^th Malaysia Plan Working Capital Guarantee Scheme, Services Sector Guarantee Scheme and many others. SJPP can be reached through its website at www.sjpp.com.my. Prokhas Sdn Bhd, a company wholly owned by the Minister of Finance Incorporated has been entrusted to manage the daily operations of SJPP.

Source : Bank Islam Malaysia Berhad 

FOR MORE INFORMATION, PLEASE CONTACT :
Bank Islam Malaysia Berhad 
Name : Wan Norkhairi Wan Samad
Head,
Group Corporate Communications
Bank Islam Malaysia Berhad
Tel : 03-2782 1232 / 019-339 4491
Fax : 03-2781 2998
Email : wnorkhairi@bankislam.com.my
Web : www.bankislam.com.my

Name : Omar Atin
Assistant Vice President,
Media Relations & Editorial, 
Group Corporate Communications
BIMB Holdings Berhad
Tel : 03-2781 2943 / 019-391 9144
Fax : 03-2781 2998
Email : omar@bimbholdings.com
Web : www.bimbholdings.com

PETRONAS
Name : Joseph Edwin 
General Manager
Media Engagement
Group Strategic Communications 
PETRONAS
Tel : 03-2331 4028 / 012 287 9034
Email : joseph_edwin@petronas.com.my

Name : Azeman Said 
Senior Manager
Media Engagement
Group Strategic Communications 
PETRONAS
Tel :   03-2331 7437 / 013-3311 699
Email : azeman_said@petronas.com.my

SJPP
Name : Noorshiha Mohamad
Head
Guarantee Schemes Management
Tel :  03-2096 5186 / 016-3843696 
Email : nsm@prokhas.com.my

Name : Faridah Abd Wahab
Head
Corporate Communications
Tel :  03-2096 5080 / 012-2126151
Email : faw@prokhas.com.my

--BERNAMA