Alliance Islamic Bank offers RM400 mln financing to help SMEs succeed in Halal sector

Alliance Islamic Bank Bhd (AIS) is providing RM400 million shariah-compliant financing this year through its Halal in One (HIO) programme, a halal ecosystem that offers financial and non-financial support to help business owners grow and succeed in the halal space.

AIS chief executive officer (CEO) Rizal Il-Ehzan Fadil Azim said the programme offers end-to-end halal certification support, advisory, shariah-compliant funding, assistance to digitise small and medium enterprises’ (SMEs) business, and global market access to businesses seeking to expand their customer reach in the halal segment.

HIO also helps businesses obtain customised financing for certification costs, premises renovation, equipment hire purchase and working capital, he said.

“With the global halal market expected to grow rapidly from US$3 trillion currently to US$7.7 trillion by 2030, we found that many businesses were aware of the opportunity that they could seize to boost their sales.

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