Kuala Lumpur: Small Medium Enterprise Development Bank Malaysia Berhad (‘SME Bank’) has forged a strategic partnership with CDC International Sdn. Bhd. (‘CDCi’) through a Memorandum of Understanding (‘MoU’). This collaboration is designed to boost financial access and digital solutions for micro, small, and medium enterprises (‘MSMEs’) in Malaysia. Additionally, it will provide a comprehensive capability development initiative via the Bank’s subsidiary, the Centre for Entrepreneur Development and Research (‘CEDAR’). This initiative highlights SME Bank’s dedication to enhancing the digital and financial empowerment of MSMEs, acknowledging their crucial role in Malaysia’s economy.

According to BERNAMA News Agency, Datuk Dr. Mohammad Hardee Ibrahim, Acting Group President/Chief Executive Officer of SME Bank, expressed enthusiasm about the partnership with CDCi, emphasizing their shared goal of supporting Malaysian SMEs. Since 2021, SME Bank’s digital platforms, including ELSA, ScoreXcess, and ODELA, have assisted nearly 5,000 SMEs across various sectors. The collaboration focuses on facilitating market access and business development through CDCi’s SPEED, a digital procurement platform that links SME suppliers with large buyers from both public and private sectors. This aligns with the Government’s MADANI framework, which underscores the digital economy as a driver of growth.