Facilitating Upward Mobility Beyond our iTEKAD recipients, there are many other business owners who do not have the creditworthiness or business track record to qualify for commercially-driven funding. To assist these entrepreneurs, we partner with a range of organisations – from civil society organisations (CSOs) to business coaches – to offer working capital and business support via coaching and mentoring. Some of them were ineligible for the iTEKAD programme and would be considered for the BangKIT Business Grant, which was specially developed for those in the pre-commercialisation stage. Through these services, which are collectively termed our “funding escalator”, we play an important role in bridging the funding gap that many business owners face, giving them the impetus to grow their business and, if necessary, receive credit under iTEKAD or other funding schemes under the bank. The initiatives under this umbrella also include innovative and impactful collaborations with organisations like the Association of Islamic Banking and Financial Institutions Malaysia (AIBIM), Yayasan Jariah Aafiyat (YJA), and LZNK. Furthermore, in 2024 we recorded heightened interest in iTEKAD BangKIT from various potential collaborators, including government-linked corporations (GLCs) and philanthropists, and established partnerships with a range of organisations to expand its reach and impact. This is a testament to the programme’s strong reputation and track record in driving value within the Malaysian business landscape. AIBIM – MyZakat Initiative LZNK – Projek Hassan YJA Skim Smart Sawah Berskala Besar Supports asnaf microentrepreneurs under Program Transformasi Usahawan Asnaf (PTUA). RM50,000 disbursed, benefitting 30 individuals Supports paddy farmers with working capital of RM5,000 to support their growing business. RM330,000 disbursed, benefitting 66 individuals Aims to uplift asnaf groups in Kedah by transforming them into agricultural entrepreneurs and producing rice for other asnaf. RM200,000 disbursed, benefitting one asnaf group Empowers microentrepreneurs under a monitoring programme by YJA. RM200,000 disbursed, benefitting 20 individuals Bank Islam Malaysia Berhad ◆ Integrated Annual Report 2024 174 Sustainability Statement
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