KUSKOP and BNM discuss expanding inclusive credit for new entrepreneurs and first-time borrowers to boost MSME resilience amid economic challenges.
PUTRAJAYA: Efforts to expand a more inclusive access to credit to new entrepreneurs and first-time borrowers were the main focus of a meeting between Entrepreneur and Cooperatives Development Minister Steven Sim Chee Keong and Bank Negara Malaysia (BNM) Governor Datuk Seri Abdul Rasheed Ghaffour today.
The Ministry of Entrepreneur and Cooperatives Development (KUSKOP) in a statement today said that the efforts were in line with the need to boost the resilience of micro, small and medium enterprises (MSMEs) in a challenging economic environment.
The ministry said the meeting also discussed the potential of hybrid or blended financing approaches to leverage the strengths of the country’s financial sector and capital market to support MSME growth.
“Steven Sim stressed that in facing current challenges, support for MSMEs requires an ‘all-hands-on-deck’ approach involving the government, financial institutions, the banking sector and the entire entrepreneurial ecosystem in line with KUSKOP’s mission of ‘Hebatkan Perniagaan Malaysia’,” it said.
According to the statement, Sim also stated that KUSKOP was committed not only to ensuring that more local businesses remain resilient in the face of global economic challenges arising from the West Asia conflict, but also to seizing opportunities to continue growing, increasing productivity, and advancing to the next level.
“As of March 2026, financing to MSMEs by banking institutions and development finance institutions (DFIs), which has reached RM443.8 billion, representing almost 51% of total business loans, is a strong foundation to be strengthened with further support,” it said.
Meanwhile, the ministry said Sim welcomed BNM’s announcement of the SME Stabilisation Relief Facility (SME SRF), amounting to RM5 billion, to assist SMEs affected by the energy supply crisis following the ongoing conflict in West Asia.