KUALA LUMPUR: Bank Muamalat Malaysia Bhd targets to grow its small and medium-sized (SMEs) financing portfolio to RM1.2 billion by its financial year ending March 2015 from the current RM1 billion.
Chief executive officer Datuk Mohd Redza Shah Abdul Wahid said this will be achieved by giving out more financing aid to SMEs.
He said the sector is an important agent of growth and will be a vital component that will support the nation's aspirations to become a high income economy.
“One of the major levers of growth for the SME sector is access to financing. Bank Muamalat therefore has an important role in the system to provide the financing assistance to the SMEs,” he told a news conference after signing a memorandum of understanding (MoU) with Kuala Lumpur and Selangor Indian Chamber of Commerce and Industry (KLSICCI) and Kuala Lumpur Malay Chamber of Commerce (KLMCC) here yesterday.