KUALA LUMPUR, Sept 3 (Bernama) -- Bank Muamalat Malaysia Berhad (Bank Muamalat) is pleased to announce a strategic collaboration with TASConnect, a leading digital supply chain finance platform, to provide enhanced and more accessible financing solutions for Small and Medium Enterprises (SMEs) across Malaysia.
SMEs can now access working capital more seamlessly, with faster approvals, improved financing terms, and reduced dependence on heavy collateral. With TASConnect’s platform, Bank Muamalat can deliver quicker financing approvals, enhanced transparency, and efficient disbursements, which significantly improves turnaround time for SME financing. With the backing of the Government Guarantee Scheme Madani for SMEs (GGSM), administered by Syarikat Jaminan Pembiayaan Perniagaan Berhad (SJPP), the bank’s risk exposure is reduced, enabling financing for a wider spectrum of SMEs.
This collaboration reinforces Bank Muamalat’s position as a leading Islamic bank in Malaysia and demonstrates the bank’s strong commitment to the national agenda of supporting SMEs and driving economic recovery. By combining innovative digital solutions with Shariah- compliant financing, Bank Muamalat demonstrates a deep understanding of its customers’ needs and actively delivers solutions that drive economic well-being and sustainable growth
President and Chief Executive Officer of Bank Muamalat, Datuk Khairul Kamarudin stated that, “At Bank Muamalat, we see SMEs not only as contributors to the economy, but as the real drivers of Malaysia’s digital transformation and future competitiveness. Access to working capital is often the bridge between surviving and scaling, and this collaboration with TASConnect provides SMEs with that bridge, delivered in a faster, simpler and Shariah- compliant way.
Tse Ning Chan, Country Executive & Regional Head of Sales, TASConnect Malaysia said, “The introduction of GGSM3 is a timely boost for SMEs seeking reliable financing in today’s challenging business climate, our collaboration with Bank Muamalat will help SMEs strengthen their cash flow and seize new opportunities, while the SJPP guarantee reduces risks for financiers.”
A Memorandum of Understanding (MoU) was signed today to formalize the collaboration. Effective immediately, eligible SMEs nationwide can apply for financing through the TASConnect platform, removing geographical barriers and ensuring equitable access to capital.
For further information, customers can visit www.muamalat.com.my or contact the Customer Service Centre at 03-2600 5500.
SOURCE: Bank Muamalat Malaysia Berhad (Bank Muamalat) FOR MORE INFORMATION, PLEASE CONTACT:Name: Mohd Nazrul Hafizi
Tel: +6017 921 1384
Email: mohd.nazrul.hafizi@muamalat.com.myName: Hawa Ali
Tel: +6019 239 2077
Email: siti.norhawa@muamalat.com.my
--BERNAMA
