CIMB’s SMEBizReady to boost SME development through accelerating digitalisation, technology adoption and sustainable growth
 

KUALA LUMPUR, March 5 (Bernama) -- CIMB Bank Berhad and CIMB Islamic Bank Berhad (collectively “CIMB” or “the Bank”) have returned with the third edition of the CIMB Bazar Siberturahim Fashion Fest (“Bazar Siberturahim”), to support small and medium-sized (“SMEs”) enterprises in providing business solutions and knowledge on sustaining long-term affluence. The weekend-long event saw the launch of CIMB’s SMEBizReady, a suite of solutions for small and medium-sized enterprises (“SMEs”) centered on digitalisation, technology and sustainability; and presented an in-depth and practical understanding of Islamic wealth and legacy planning, covering faraid, hibah, takaful and inheritance through the “Preserving Multi-Generational Wealth” panel talk.
 
The CIMB SMEBizReady is set to empower SMEs to embrace technological advancements, adopt automation practices, and drive growth in their respective industries, through its offerings of comprehensive financing solutions namely; SME Automation and Digitalisation Facility, High Tech and Green Facility, Low Carbon Transition Facility and Agrofood Facility, each designed to pivot SMEs to be future-ready and sustain their businesses. This commitment underscores CIMB's dedication to supporting the long-term success and resilience of SMEs, which are integral to the vibrancy of the nation’s economy.
 
“CIMB prioritises initiatives to complement the needs of SMEs in various industries that will assist the sustainability and longevity of their businesses. CIMB SMEBizReady is designed to provide value based financing (“VBF”) to unlock their potential through an array of targeted financing solutions along with access to technology solution providers. We are pleased to be able to play a catalysing role in their evolution, embracing sustainable adoption of digitalisation and technology, and contributing to the success of SMEs in the nation,” said Lawrence Loh, Co-Chief Executive Officer, Group Commercial and Transaction Banking, CIMB Group.
 
CIMB’s support for SMEs is complemented by a collaboration with Credit Guarantee Corporation Malaysia Berhad (“CGC”) and Syarikat Jaminan Pembiayaan Perniagaan Berhad (“SJPP”) to provide guarantees for SME financing through special schemes without collateral requirements. The VBF propositions form part of CIMB’s commitment to SMEs through a total of RM30 billion in financing from 2022 to 2024.

 
Bazar Siberturahim also witnessed a discussion on ‘Preserving Multi-Generational Wealth’, moderated by Khairy Jamaluddin and Shahril Hamdan of the Keluar Sekejap podcast, which delved into the practical understanding of Islamic wealth and legacy planning, covering faraid, hibah, takaful and inheritance. It aimed to amplify awareness on the importance of generational wealth planning and educate attendees on overcoming the challenges and complexities often associated with estate distribution. The robust discussion proved fruitful as it shed light on an often overlooked subject for both business owners and visitors.
 
“This year’s edition of Bazar Siberturahim has been our most meaningful in terms of providing opportunities to local designers, business owners and customers of all distinctions. Via this event, CIMB Islamic is pleased to support individuals and SMEs in achieving their potential through solutions such as SME BizReady and, financial and wealth planning. As a Value-Based Intermediary, this integrated platform enables us to deliver positive impact that contributes to the growth of Malaysia’s economy, fostering financial inclusion and homegrown talent as well as the customers and communities we serve. We stand ready to continue supporting our valued SME and individual customers in realising their aspirations, bringing to life CIMB’s brand promise, Moving Forward With You,” said Ahmad Shahriman Mohd Shariff, Chief Executive Officer of CIMB Islamic.

Bazar Siberturahim will remain open to the public until 10 March, and CIMB cardholders can obtain special discounts at the bazaar. The offers are also available at the designers’ boutiques and online stores until 31 May 2024. Among the homegrown brands that are exhibited at the Bazar Siberturahim Fashion Fest 2024 are Ezuwan Ismail, Radzuan Radziwill, Pink Jambu, 3TheLabel, Tom Abang Saufi, Salikin Sidek, She Dazzle, Sri Candy, batikTEKTURA, Mode/MirolJonit, ZuuSaha and My Pride. Further information on Bazar Siberturahim Fashion 2024 can be found at https://www.cimb.com.my/en/personal/promotions/latest-promotions/bazar- siberturahim-2024.html 

About CIMB
 
CIMB is one of ASEAN’s leading banking groups and Malaysia’s second largest financial services provider, by assets. Listed on Bursa Malaysia via CIMB Group Holdings Berhad, it had a market capitalisation of approximately RM62.4 billion as at 31 December 2023. It offers consumer banking, commercial banking, wholesale banking, transaction banking, Islamic banking and asset management products and services. Headquartered in Kuala Lumpur, the Group is present in eight ASEAN nations (Malaysia, Indonesia, Singapore, Thailand, Cambodia, Vietnam, Myanmar and Philippines). Beyond ASEAN, the Group has market presence in China, Hong Kong, and UK. CIMB has one of the most extensive retail branch networks in ASEAN with 601 branches and around 33,000 employees as at 31 December 2023. CIMB’s investment banking arm is one of the largest Asia Pacific-based investment banks, which together with its award- winning treasury & markets and corporate banking units comprise the Group’s leading wholesale banking franchise. CIMB is also the 92.5% shareholder of Bank CIMB Niaga in Indonesia, and 94.8% shareholder of CIMB Thai in Thailand.

SOURCE: CIMB Bank Berhad

FOR MORE INFORMATION, PLEASE CONTACT:
Name: Anis Azharuddin / Kelvin Jude Muthu
Group Corporate Communications CIMB Group Holdings Berhad
Email: anis.azharuddin@cimb.com / kelvinjude.muthu@cimb.com 

--BERNAMA