Material for Streamlining and Simplifying SME Loan Applications Now Available on the Website of The Association of Banks in Malaysia and from Seven Other Participating Banks

Kuala Lumpur, Monday, 1 November 2010:- The Association of Banks in Malaysia (ABM) announced at a media briefing today that material relating to Phase 1 of its “PARTNER” initiative aimed at streamlining and simplifying the processes and procedures for loan applications by Small and Medium Enterprises (SMEs) are accessible via its website, www.abm.org.my, since Friday evening 29 October 2010. ABM also unveiled a detailed roll-out programme in respect of all the present participating banks. Starting today, SME loan applicants for 7 out of the 14 participating banks will also be able to download the material from the respective websites and/or procure the same in hard copy form from the banks’ branches.

Representatives of both SME Organizations and the banking fraternity were present to stamp their support for the initiatives at the briefing as members of the press were guided step by step through the Explanatory Notes and Guidelines. PARTNER’s version of a loan application form, the checklists that set out the relevant documents which the applicant would require, the common timeline to be expected for a straightforward SME loan application as well as a directory of SME contact points in the event of any query pertaining to loan applications were then presented in detail to the attendees. Copies of the detailed roll-out schedule involving all participating banks were also handed out at the media briefing.

The availability of the relevant material comes close at the heels of recent announcements on the initiatives during a series of ABM dialogues and a SME Seminar organized by ABM in collaboration with Bank Negara Malaysia, SME Corporation Malaysia and Credit Guarantee Corporation Malaysia Berhad in Kuching and Kota Kinabalu in October.

“Streamlining and simplifying the processes and procedures of applications for a SME loan is but the first phase of the many SME initiatives which we will work on together with the SME Organizations as part of our honest and sincere aspiration to further enhance the close working relationships between SMEs and bankers. Even though the initiatives were finalized after the draft material were duly circulated and consultative dialogues were held with the SME Organizations, we will continue to refine the same and make it even more effective. Accordingly, we welcome feedback from SMEs via our ABMConnect toll-free line 1-300-88-9980, or eABMConnect which is located within our website,” said Chuah Mei Lin, the Executive Director, ABM

“So far the feedback has been very positive indeed. With the support and cooperation of the SME Organizations as well as our member banks, we are already commencing work on identifying the next set of issues to keep the momentum going for the purpose of the second phase initiatives,” added Chuah.

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