KUALA LUMPUR: Maybank Islamic Bhd has teamed up with Credit Guarantee Corporation Malaysia Bhd (CGC) to introduce Malaysia's first supply chain financing guarantee scheme anchored by mid-tier companies (MTCs).
Under the collaboration, Maybank Islamic will provide Syariah-compliant supply chain financing facilities, while CGC will extend guarantee support to eligible MTCs under its BizJamin-i Mid-Tier Companies scheme.
The innovative structure, which forms part of Maybank's new economy ecosystem initiative, enables suppliers within MTC ecosystems, predominantly micro, small and medium enterprises (MSMEs), to access early payment against approved invoices.
One of the key features is CGC's guarantee support, which enables eligible MTCs to act as anchors in their supply chains, allowing their suppliers to access financing against approved invoices.
Additionally, guarantee charges are transaction-based, with payments made only when the facility is used.
Maybank Islamic group chief executive officer (CEO) Mohamad Yasin Abdullah said the collaboration reflects the bank's commitment to humanising financial services by addressing the real financing needs of businesses across the supply chain.
"By combining Shariah-compliant financing with CGC's guarantee support, we are enabling MTCs and their suppliers to strengthen liquidity, build greater resilience and enhance their competitiveness.
"It also supports Maybank Group Islamic Banking's ROAR30 strategy to mobilise Islamic finance to drive real economic growth and elevate community wellbeing through values-based intermediation."
CGC president and CEO Mohamed Nazri Omar said a viable business is often turned away not because it lacks potential, but because the financier cannot see enough to proceed with confidence.
"Closing that gap is CGC's purpose. Through BizJamin-i, we are extending our guarantee to MTCs acting as anchors in their own supply chains, enabling the suppliers behind them, most of whom are MSMEs, to access financing against approved invoices rather than collateral they may not hold.
"When a supplier's trading record is visible and verifiable, our guarantee can reach further and support businesses that might otherwise be underserved," he added.
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