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Accelerating the Halal Industry: SME Bank Collaborates With HDC and Perak SADC

13 September 2023

KUALA LUMPUR: 13 September 2023 – Small Medium Enterprise Development Bank Malaysia Berhad (SME Bank) yesterday exchanged two Memorandum of Understanding (MoUs) with Halal Development Corporation (HDC) and Perak State Agricultural Development Corporation (Perak SADC) at the Malaysia International Halal Exhibition (MIHAS) 2023. The collaborations aimed to support the growth of SME enterprises in the Halal industry and contribute to achieving the goal of USD113.2 billion for the Malaysia Halal market by 2030.

Datuk Wira (Dr.) Aria Putera Ismail, SME Bank Group President/Chief Executive Officer said, “Approximately 84.6 percent of the SME sector's gross domestic product (GDP) is attributed to the manufacturing and services sectors. However, not all of these enterprises are adequately prepared to meet global standards and regulations, nor do they meet the high demand for Halal-certified products and services. These collaborations will not only provide financial solutions to SMEs affiliated with HDC and Perak SADC but also address the imperative of enhancing the capacity and capability of SMEs within the Halal industry.”

The exchange of the MoU between SME Bank, HDC, and Perak SADC was witnessed by YB Datuk Ewon Benedick, Minister of Entrepreneur and Cooperatives Development (MECD). SME Bank was represented by Datuk Wira (Dr.) Aria Putera Ismail, Group President/Chief Executive Officer; HDC was represented by Khairul Azwan Harun, Chairman of HDC, and Hairol Ariffein Sahari, Chief Executive Officer of HDC; whilst Perak SADC was represented by Hj. Yahanis Yahaya, Chief Executive Officer of Perak SADC.

Aside from providing financial and capacity-building support to entrepreneurs under the purview of HDC and Perak SADC, the collaboration with Perak SADC will also explore opportunities for SME Bank to provide financing for the Perak Halal Meat Hub as well as to the SMEs that will be part of this hub.

SME Bank is the lead implementing agency for the MECD pavilion at the MIHAS 2023. The pavilion served as a platform for 24 SMEs to showcase their diverse array of products and services. Notably, 12 of these participants are actively engaged in the Business Export Program (BEP), a strategic initiative facilitated by SME Bank.

Another business platform worth noting is SME XCESS 2023, a hybrid business matching experience for local and international businesses to expand and grow. Slated from 21-22 September 2023 in MITEC, Kuala Lumpur, the event will provide a gateway for SMEs to explore various financing and beyond financing programmes offered by SME Bank alongside its diverse lineup of partners including government agencies, anchor corporations, retail and hypermarket entities, suppliers, importers, and market linkers. Registration for SME Bank XCESS 2023 is free and open to all. Secure your participation today by visiting www.smebankxcess2023.com.