Ambank Islamic Aims To Empower Microentrepreneurs Through Itekad Initiative
KUALA LUMPUR, Jan 26 (Bernama) -- AmBank Islamic is expanding its iTEKAD programme beyond the initial beneficiaries of asnaf to empower microentrepreneurs.
In a statement today, the bank said the programme expansion comes after the success of previous iTEKAD initiatives in Selangor and Johor.
AmBank Islamic said its latest iTEKAD programme saw the distribution of RM250,000 seed capital contributions to recipients in Perak.
The initiative was in collaboration with Sekretariat Usahawan Negeri Perak (STeP) and supported by Bank Negara Malaysia (BNM).
AmBank Islamic chief executive officer Eqhwan Mokhzanee said the bank is broadening its support in fostering inclusive economic growth for all Malaysians, encompassing asnaf and non-Muslim microentrepreneurs.
“AmBank Islamic remains steadfast in its commitment to instigate positive change, drive local economic development and support microentrepreneurs as they pursue sustainable success through the expanded iTEKAD programme,” he said.
The iTEKAD programme is a blended funding initiative that provides low-income microentrepreneurs with microfinance, seed money, and structured upskilling and training.
Its value proposition includes promoting business ventures, offering support for microfinance, developing entrepreneurial abilities, and boosting the digital capabilities of microentrepreneurs.
The group has also allocated RM100,000 from its zakat fund to improve entrepreneurial skills and digital initiatives for business viability.
Under this component, participants will be registered with DuitNow QR or mTAP, a card acceptance solution as a supporting infrastructure to increase their digital capacity by undergoing a seamless collection payment process.
The iTEKAD programme, initiated by BNM in 2020, aligns with the goals of Budget 2024, which is to generate sustainable income for microentrepreneurs.
The government has also allocated a matching grant of RM25 million for the iTEKAD initiative.
-- BERNAMA