KUALA LUMPUR, Nov 10 (Bernama) -- 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.

About EXIM Bank of Malaysia Berhad
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.
 
SOURCE: Export-Import Bank of Malaysia Berhad 

FOR MORE INFORMATION, PLEASE CONTACT: 
Name: Azmin Hamzah
Head, Corporate Communication
Export-Import Bank of Malaysia Berhad
Tel:+603 2601 2371
Fax: +603 2601 2469
Email: azmin@exim.com.my
W : www.exim.com.my

Name: Mohd Ronnee Osman
Manager, Corporate Communication
Export-Import Bank of Malaysia Berhad
Tel: +603 2601 2397
Fax: +603 2601 2469
Email: mronneeosman@exim.com.my
W : www.exim.com.my

--BERNAMA