Kuala Lumpur, Tuesday, 21 June 2011 - The Association of Banks in Malaysia (ABM) is pleased to announce that key material relating to Phase 1 of its “PARTNER” initiative can now be downloaded from its website www.abm.org.my in Bahasa Malaysia and Mandarin.

The PARTNER initiative, launched in October 2010 by ABM in collaboration with its member banks, was aimed at enhancing banking efficiency and customer services for the Small and Medium Enterprises (SMEs). In line with the objectives of the Focus Group on Private Sector Efficiency and Consumerism (FGPE) under the auspices and broader umbrella of PEMUDAH and of which ABM is a member, Phase 1 of the PARTNER initiative focused on streamlining and simplifying the processes and procedures for loan applications by SMEs.

Based on comments and feedback of SMEs and SME organizations arising from the series of nationwide dialogues titled “Sesi Berinteraksi Bersama Organisasi Perniagaan” organized by ABM since 2009, the measures covered in Phase 1 of the PARTNER initiative were:-

1. a simple loan application form which SMEs can use with participating commercial banks named in ABM’s website.
2. two checklists of documents, the first detailing the general types of documents or information required to be submitted with any loan application and the second, setting out the more specific documents or information required for various kinds of loans or facilities.
3. explanatory notes and guidelines as to how to use the application form and checklists.
4. a timeline depicting the stages involved in the processing of straightforward loan applications and the time expected for each of the stages.
5. the SME contact points of all participating commercial banks so that SMEs are better informed as to who they can look to at the contact points for advice and enquiries when applying for a loan or facility.

Chuah Mei Lin, Executive Director of ABM said, “The feedback from SMEs and member banks to Phase 1 of the PARTNER initiative has been very encouraging. We are in constant engagement with the SMEs and member banks to explore ways to enhance the documents to make them more effective. Accordingly we have made them accessible in two more languages to cater to a wider audience. All 14 participating commercial banks have been urged to make the documents available in both Bahasa Malaysia and Mandarin besides the English language in their websites or in hard copy form.”

She further added “Together with member banks and SME organizations, we have also commenced work on Phase 2 where we hope to further refine or pursue other areas of improvement to the SME loan application process.”

SMEs are welcomed to provide their feedback pertaining to the PARTNER initiatives via ABMConnect toll-ree line at 1-300-88-9980 or write in to eABMConnect via ABM’s website.

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