Standard Chartered has entered into a Portfolio Guarantee agreement with Credit Guarantee Corporation Malaysia Berhad (CGC) for a new MYR300 million tranche.
Under the agreement, MYR200 million in conventional and MYR100 million in Islamic banking facilities will be made available to growing small and medium enterprises (SMEs) to facilitate new market expansion and digital transformation, amongst others, in their growth.
Speaking at the signing ceremony, SCB CEO Mak Joon Nien referenced the Bank and CGC’s shared commitment to SMEs in the country. “SMEs are the catalyst to advancing Malaysia forward, with agility being key to their resilience as it allows them to quickly transform to adapt to new ways of doing business. Working with a like-minded partner like CGC continues to intensify our efforts to serve and channel financing to this growing and vital segment so that they can continue to lead
Malaysia on its journey to becoming a digitally-driven high-income economy.
CGC CEO Datuk Mohd Zamree Mohd Ishak highlighted the impactful partnership between CGC and Standard Chartered which has been instrumental in supporting Malaysian micro, small and medium enterprises (MSMEs). “
