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null CIMB offers RM5m SME-friendly initiative to MSMEs in NCER

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CIMB offers RM5m SME-friendly initiative to MSMEs in NCER

2 Aug 2022 | Tuesday Source: The Edge Markets

CIMB Bank Bhd and CIMB Islamic Bank Bhd are offering the NCIA-CIMB Entrepreneur Scheme (NCES) to eligible micro, small and medium entrepreneurs (MSMEs) in the northern region, namely the states of Perlis, Kedah, Penang, and Perak, which make up the Northern Corridor Economic Region (NCER).

In a statement on Monday (Aug 1), the banking group said the scheme provides up to RM5 million in rebates on interest and profit from CIMB’s SME loans and financing, and this is intended to further stimulate the growth of local businesses, and support the development as well as recovery of the economy.

It said the NCES is a partnership between CIMB and the Northern Corridor Implementation Authority (NCIA), which was launched in February.

CIMB said the partnership aims to revitalise the development of close to 1,500 MSMEs, in line with the 12th Malaysia Plan, via the reduction of financing cost through interest/profit subsidies

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