Malaysia's Bank Rakyat offers $16 million fund to help women entrepreneurs

Wan Junaidi Tuanku Jaafar (BN)
PHOTO: The Star/Asia News Network

PETALING JAYA - Bank Rakyat is offering funding amounting to RM50 million (S$16 million) to women entrepreneurs, as well as various special financing schemes for small and medium enterprises (SMEs), cooperatives and individuals to help revitalise the economy.

Entrepreneur Development and Cooperatives Minister Datuk Sri Dr Wan Junaidi Tuanku Jaafar said the initiative taken could help to ensure economic survival of businesses in the wake of Covid-19 pandemic.

The RM50 million fund for women entrepreneurs would be offered through Bank Rakyat's Biz Lady package.

"This special programme will help women entrepreneurs reduce their short-term cash flow problems and maintain business continuity," he said in a statement on Tuesday (May 12).

In addition, Bank Rakyat is offering a special financial scheme worth up to RM300,000 each to assist SMEs and cooperatives.

"The bank will also provide a micro financing scheme worth up to RM50,000 (69 months instalment) with a nine-month grace period," he said.

The campaign is aimed at helping entrepreneurs and cooperatives maintain business operations and to revitalise the economy.

Bank Rakyat is also offering RM200,000 under its personal financing-i scheme at a low interest rate of 2.78 per cent per annum for 10 years.

It is part of the bank's "We are With You" campaign held from April 24 to June 30.

There's also the Ar-Rahnu Mortgage Tax-financing of up to RM350,000, with financing margin of up to 80 per cent for a maximum financing period of 18 months.

For more information, visit Bank Rakyat or enquire via e-mail, or call 1-300-80- 5454.