Dialogue With SMEs and Business Organizations Organized by The Association Of Banks and Bank Negara Malaysia, An Encouraging Success

Kuching, Tuesday, 19 October 2010 – The Association of Banks in Malaysia (ABM) together with Bank Negara Malaysia hosted the first ever dialogue in Kuching between Small and Medium Enterprises (SMEs), other relevant business organizations and representatives of the financial services industry today.

On hand with presentations which helped demonstrate the wide spectrum of financing options available for SMEs and other businesses, besides conventional loans or facilities, were SME Corporation Malaysia and Credit Guarantee Corporation Malaysia Berhad.

The Dialogue is an industry-wide initiative designed for commercial banks to foster better ties with business communities outside key urban areas in West Malaysia. In line with the commercial banks’ continued support for SME activities, the interactive session presented an opportunity for the business community to share with the financial services sector its suggestions and comments for better collaboration.

More than 80 bankers and representatives from the various chambers of commerce and trade associations from Kuching attended the Dialogue. Every commercial bank with operations in Kuching, Sarawak was represented. The Executive Director of ABM, Chuah Mei Lin, said that Bank Negara Malaysia and ABM were overwhelmed by the warmth of the reception extended by the business organizations.

“The banking community wanted to reach out to SMEs in all corners of Malaysia. This is the primary reason we decided to come together, not just commercial banks but also other relevant agencies, to listen to the business organizations and to share recent developments in the financial services sector with them. The matters raised at the Dialogue have provided useful insights to both sides.”

Chuah added that given the emphasis on the SME sector as one of the key drivers of economic growth in Malaysia, the commercial banks have re-affirmed their commitment to supporting the growth and development of SMEs and industries during the Dialogue as well as their desire to maintain an open communication channel between both sectors.

“Since July 2009, Bank Negara Malaysia and ABM have worked hand-in-hand to reach out to the SMEs and business and trade associations. So far our dialogues have extended to Pulau Pinang, Batu Pahat, Kuala Terengganu and Ipoh. East Malaysia has always been on our radar and we are thrilled that plans to be here have finally gelled.”

“There will be more dialogues of this nature going forward. We have adopted a phased approach to reach out to the business communities in various towns and city centres as each region comes with its own commercial activities, and hence its own distinctive set of issues,” said Chuah.

Kota Kinabalu, Sabah will be the next leg of the public engagement nation-wide tour where a similar dialogue is scheduled for Thursday, 21 October 2010.

SMEs and business organizations with enquiries on commercial banking related issues may obtain more information from ABM’s website, www.abm.org.my or contact ABM’s toll-free hotline ABMConnect at 1-300-88-9980 from 9:00 am to 5:30 pm, Mondays to Fridays.

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