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CIMB Islamic launches Sustainable Term Investment Account-i
20 Sep 2022 | Tuesday Source: The Edge Markets
CIMB Islamic Bank Bhd (CIMB Islamic) has launched its first Sustainable Term Investment Account-i (Sustainable TIA-i) Tranche, a purpose-driven investment offering for businesses including small and medium enterprises (SMEs).
In a statement on Monday (Sept 19), the bank said the Sustainable TIA-i fund placements will be invested into eligible Shariah-compliant sustainable financing assets that are aligned to CIMB Group’s priority Sustainable Development Goals (SDGs).
CIMB Islamic said Sustainable TIA-i will focus primarily on financing assets linked to SDG 8 which promotes decent work and economic growth, with particular emphasis on assets that are aligned to micro, small and medium enterprises (MSMEs) as defined by Bank Negara Malaysia.
It said these assets include the financing of activities that contribute to sustainable job creation, economic growth and societal well-being, as well as activities that contribute to expanded access to affordable and responsible financial products and services to vulnerable segments in the start-up and MSME sectors.
