Kuala lumpur: About 700,000 hawkers registered under hawker associations are expected to benefit from the Agro Penjaja-i initiative launched today, said Agrobank president and chief executive officer Datuk Tengku Ahmad Badli Shah Raja Hussin. Speaking at a press conference after the Agro Penjaja-i launch, Tengku Ahmad Badli Shah emphasized that the initiative targets small traders, particularly hawkers, by offering financing, advisory services, and digital financial management savings.
According to BERNAMA News Agency, the initiative provides loans ranging from RM5,000 to RM100,000 to help hawkers expand their businesses, purchase equipment, and strengthen their operations for the future. Additionally, the program offers hibah or profit on savings in Agro Penjaja-i accounts, with protection under takaful for as low as RM10 a year. The launch ceremony was officiated by Minister of Agriculture and Food Security Datuk Seri Mohamad Sabu.
Tengku Ahmad Badli Shah highlighted that Agrobank also provides a 'green lane' specialization for Ar-Rahnu processing up to RM300,000, featuring special rates and profits from hawkers' savings. To qualify, hawkers must register with hawker associations and local authorities (PBT) to obtain approval or a license for business activities. Approval is based on the hawkers' repayment ability and specific needs, even if they receive funding from government agencies such as Tekun Nasional.
Furthermore, the initiative offers free advisory services and individual guidance for three months to assist hawkers in financial management and marketing. During his launching speech, Minister Mohamad noted that the initiative aligns with the MADANI Government's vision to support hawkers and entrepreneurs amid the current global energy crisis.
"Agro Penjaja-i represents Agrobank's holistic approach to empowering the hawker community and micro-entrepreneurs, who are key contributors to the country's economy. Through this initiative, we not only provide easy and inclusive access to financing but also help improve their entrepreneurial knowledge, financial management, and business digitalization capabilities," he said.