Banking Institutions Must Act As Strategic Partners To Sustain Domestic Economy -- PM Anwar
KUALA LUMPUR, April 21 (Bernama) -- Banking institutions must shoulder their responsibility as strategic partners to sustain the domestic economy, said Prime Minister Datuk Seri Anwar Ibrahim.
He said that although the country’s economic fundamentals remain resilient, the government will not compromise on any delays in addressing the pressures facing critical sectors, especially micro, small and medium enterprises (MSMEs), which are the pillars of the country’s economy.
Earlier, Anwar, who is also Finance Minister, announced the RM5 billion special facility to be channelled through the banking sector to affected MSMEs.
This complements the RM5 billion guarantee under Syarikat Jaminan Pembiayaan Perniagaan Bhd (SJPP) announced previously, bringing the total financial support to MSMEs to RM10 billion.
“I also emphasise that access to these facilities must be expanded fairly and comprehensively, including to new MSMEs who are truly in need. Banks must not take a narrow approach; they must act as strategic partners to sustain the domestic economy.
“The MADANI government will continue to act with firmness, discipline and clear priorities to safeguard local businesses, protect people’s jobs and ensure the country’s economy remains stable and resilient,” he said in a post on the X platform today.
Anwar today held an engagement session with the chief executive officers of banking institutions to coordinate more decisive, structured actions to assist MSMEs currently facing significant strains following the global energy crisis and the West Asia conflict, which continue to affect the global supply chain.
-- BERNAMA