KUCHING: AmBank Islamic through its iTEKAD programme is taking steps to empower microentrepreneurs by extending its focus beyond Asnaf beneficiaries.
Building on the success of previous iTEKAD initiatives in Selangor and Johor, the latest programme, in collaboration with SekretariatUsahawan Negeri Perak (STeP) and supported by Bank Negara Malaysia, saw an allocation of RM250,000 for seed capital contributions in Perak.
AmBank Islamic CEO Eqhwan Mokhzanee in a statement expressed delight in broadening support for microentrepreneurs beyond the Asnaf group.
“The iTEKAD programme underscores our dedication to fostering inclusive economic growth for all Malaysians, encompassing Asnaf and non-Muslim microentrepreneurs.
“AmBank Islamic remains steadfast in its commitment to instigate positive change, drive local economic development and support microentrepreneurs as they pursue sustainable success through the expanded iTEKAD programme.
“We express gratitude to Bank Negara Malaysia for their matching grant, further fortifying the iTEKAD programme as a collaborative platform for financial institutions to actively contribute to the enduring prosperity of the communities we serve,” he said.
The iTEKAD programme, a blended funding initiative, provides seed capital, microfinancing, and structured training for low-income microentrepreneurs.
Meanwhile, STeP will monitor key aspects such as business growth, financial resilience, employment, and upskilling. The programme also aims to facilitate business activities, offer micro funding support, improve entrepreneurial skills, and enhance digital capabilities for microentrepreneurs.
Furthermore, to enhance entrepreneurial skills and digital initiatives, AmBank Islamic has allocated RM100,000 from its Zakat fund.
Participants will be registered with DuitNow QR or mTAP, receiving support for a seamless digital payment process.
Approved participants under the mTAP component will also benefit from a 24-month free line subscription and a free mobile phone through the MAXIS Promo Package.
The iTEKAD programme, initiated by Bank Negara Malaysia in 2020, aligns with the 2024 budget’s goals, aiming to generate sustainable income for microentrepreneurs.
As part of the 2024 budget, the government has allocated a RM25 million matching grant for the iTEKAD programme.
