BNM To Provide RM5 Bln Financial Aid To SMEs Affected By West Asia Conflict - PM Anwar

KUALA LUMPUR, Oct 9 (Bernama) -- Bank Negara Malaysia (BNM) will provide an additional RM5 billion on top of the RM5 billion already allocated to help small and medium enterprises (SMEs) affected by the West Asia conflict finance their businesses, said Prime Minister Datuk Seri Anwar Ibrahim.

Anwar, who is also Finance Minister, said basic credit cards were also being offered by banking institutions, with interest rates capped at 14 per cent per annum.

“Appreciation to Alliance Bank, Maybank and CIMB for offering this facility,” he said when tabling Budget 2027 in the Dewan Rakyat today.

Meanwhile, he said the Bank Pembangunan Malaysia group had allocated RM7 billion across seven strategic sectors to support growth in high-impact industries and key sectors driving national development, including renewable energy, logistics, aerospace and semiconductors.

Anwar said Syarikat Jaminan Pembiayaan Perniagaan Bhd (SJPP) and Credit Guarantee Corporation Malaysia Bhd (CGC) would provide financing guarantees of up to RM32 billion next year.

He said SJPP’s coverage would be expanded to include mid-sized companies across all sectors, while the guarantee limit would be raised to RM50 million.

“Of the total, RM1 billion in SJPP guarantees will be set aside to support the expansion of local companies through mergers and acquisitions (M&A),” he added.

-- BERNAMA