KUALA LUMPUR, Oct 16 (Bernama) -- SME Bank Malaysia Berhad (“SME Bank”) reaffirms its commitment in playing a pivotal role to advance the Government’s Halal Industry Master Plan 2030 (“HIMP 2030”) through its five-year Halal Roadmap, anchored by the Bank’s robust Islamic financing propositions, as well as its ongoing capacity-building and capability development initiatives to stimulate the vibrancy of the Halal sector.  
 
Datuk Dr. Mohammad Hardee Ibrahim, Acting Group President/Chief Executive Officer of SME Bank said, “Our commitment in supporting the Government’s  HIMP 2030 is reflected through the development of our five-year comprehensive Halal Roadmap, which encompasses effective Shariah-compliant financial solutions. This roadmap supports the Halal ecosystem through three core pillars: capacity building, product innovation and funding, alongside efforts for Halal globalisation and are designed to help businesses obtain Halal certification, whilst providing them with easier access to capital and empowering them to grow within the Halal market, both in the domestic and international landscape.”
 
“We are also one of the financial institutions mandated in the National Budget 2024 to mobilise the HalalBiz Financing Programme that encourages MSME’s participation in the Halal ecosystem, in addition to our Business Exports Programme (“BEP”), which supports companies expanding their capacity and capability for exports including in Halal-related sectors. As such, these certainly bodes well for our steadfast commitment in continuing to stimulate the growing Halal segment. To-date, our financing portfolio for Halal-related sectors stands at approximately RM2.41 billion, representing about 27% of the Bank’s total portfolio across various key affirmative segments of the economy,” Datuk Dr. Mohammad Hardee Ibrahim elaborated.      
 
Through SME Bank’s subsidiary, Centre for Entrepreneur Development and Research Sdn. Bhd. (“CEDAR”), the Bank continue to energise the SME ecosystem through various Business Coaching sessions, Halal Certification consultations, and Halal road shows, which are mobilised via the Halal Product Capacity Building Programme, the Halal Entrepreneurial Capacity Development Programme, and the Halal Technology Entrepreneurship Programme.
 
Jumadi Kadir, Group Chief Shariah Officer of SME Bank, emphasized the integration of the concept “Halal Tayyib” into the Bank’s Halal Roadmap. “This goes beyond mere compliance with Halal standards, but also ensuring ethical practices across the overall Halal industry, fostering a thriving ecosystem for SMEs” he said.
 
According to the Halal Industry Master Plan 2030, Malaysia’s halal market is projected to reach RM523.3 billion and is targeted to contribute nearly 11% to Malaysia’s gross domestic product (“GDP”) by 2030. This growth is expected to create over 700,000 job opportunities, demonstrating the significant economic potential of the halal sector. Currently, the halal industry is contributing approximately 6% to 7% of the country’s GDP, with an estimated market valuation of RM64 billion.
 
The HIMP 2030 is a strategic initiative aimed at positioning Malaysia as a prominent leader in the global Halal economy and was developed to catalyse Malaysia’s strong footprint in the development of the Halal industry and is anchored around seven strategic thrusts. These include enhancing Halal-friendly policy and legislation, creating new and bigger market spaces, establishing a larger pool of Halal industry experts, enhancing the quality and integrated infrastructure development, fostering thought leadership, producing more home-grown Halal champions, and facilitating more competitive Bumiputera participation. 

Source: SME Bank

FOR MORE INFORMATION, PLEASE CONTACT: 
Name: Arnee Ismail
Head, Group Strategic Communication
SME Bank
Tel: 03-2615 2954
Email: arnee.ismail@smebank.com.my 

--BERNAMA