KUALA LUMPUR, Nov 28 (Bernama) — CIMB Islamic Bank Berhad (“CIMB Islamic”) has unveiled its latest proposition in support of small and medium enterprises (SMEs) looking to grow their business in the global halal market. Through CIMB HalalBizReady, the proposition provides financing packages that help businesses become compatible with the requirements of halal certification whether by getting their premises, operations or supply chain to be to be in line with those requirements. CIMB HalalBizReady is part of CIMB’s refreshed SME proposition’s suite of solutions that comprises three main pillars: SME Transact, SME Financing and collaborations via industry SME Partners. Apart from business financing, CIMB HalaBizReady also gives customers access to a wider global and regional market via the CIMB Trade Club platform, and access to the expertise of CIMB’s halal-based strategic partnerships which aim to facilitate businesses to become Halal ready for further growth.
Ahmad Shahriman Mohd Shariff, Chief Executive Officer, CIMB Islamic said, “CIMB HalalBizReady is an empowering proposition to help businesses expand beyond Malaysia to access the US$2.2 trillion global halal market. The RM100 million financing support is part of CIMB’s RM15 billion commitment to finance SMEs, announced earlier this year. This reflects our commitment to growing Islamic banking assets, with 82% of CIMB’s SME financing growth in 2019 year-to-date attributable to Shariah-compliant businesses. ASEAN alone has 242 million Muslims, providing a huge demand pool that is accessible to these businesses through CIMB’s strong regional network and membership of the CIMB Trade Club.”