Budget 2027: RM1.7 Bln Allocation To Strengthen BSN’s Microfinance Role
KUALA LUMPUR, Oct 10 (Bernama) -- Bank Simpanan Nasional (BSN) said the RM1.7 billion allocation announced in Budget 2027 to address the financing needs of various target groups will provide momentum for it to reinforce its position as a leading microfinance institution in Malaysia.
BSN acting chief executive Mujibburrahman Abd Rashid said the allocation would benefit groups including youth, gig workers, hawkers and vulnerable communities.
“For BSN, the success of these initiatives is measured not merely by the amount of financing disbursed, but by how effectively it helps entrepreneurs grow their businesses, increase their income and achieve greater financial stability,” he said in a statement today.
He also welcomed the RM270 million financing allocation to support gig workers in expanding their businesses and realising their aspirations of owning their first homes.
“This initiative creates more opportunities for gig workers to improve their livelihoods and build a more secure financial future. BSN will continue to provide relevant financial solutions that meet their needs,” he added.
In advancing financial inclusion, BSN will continue to utilise its nationwide branch network, banking agents and alternative banking channels, including mobile banking, to make financial services accessible to more Malaysians, particularly those in rural and remote areas.
Mujibburrahman said financial inclusion goes beyond providing access to banking services and involves ensuring that such access makes a meaningful difference in people’s lives.
He added that continued collaboration between the government and financial institutions is vital to translating Budget 2027 initiatives into broader economic opportunities, business growth and improved well-being for Malaysians.
-- BERNAMA