OCBC Al-Amin Bank Berhad (OCBC Al-Amin) has signed a RM100 million Islamic Portfolio Guarantee-i (PG-i) agreement with Credit Guarantee Corporation Malaysia Berhad (CGC) to support the growth of Bumiputera and women-led enterprises.

Prior to this, OCBC Al-Amin had already disbursed a total of RM268 million in PG-i schemes with CGC since 2017.

The latest PG-i tranche comes without the need for collateral for up to 50% of the approved financing amount. Maximum financing is RM600,000 for a tenure of up to seven years.

Tuan Syed Abdull Aziz Syed Kechik, CEO, OCBC Al-Amin, said, “We are, once again, pleased to be collaborating with CGC on the rollout of an Islamic Portfolio Guarantee scheme. Importantly, this time round, we are looking to direct the RM100 million in financing at catalysing the growth of Bumiputera and women-led enterprises.

“We are committed to fostering inclusive economic growth by empowering Bumiputera and women entrepreneurs. Through targeted financial solutions and strategic partnerships, we aim to enhance access to financing and market opportunities for SMEs led by these communities. We look forward to nurturing sustainable business growth, driving innovation and unlocking the full potential of Malaysia’s diverse business community,” he said.

While the Bank’s latest PG-i scheme is aimed at benefitting Bumiputera and women-led enterprises, it is open to all small and medium enterprises (SMEs) in the country.

CGC President & Chief Executive Officer, Datuk Mohd Zamree Mohd Ishak remarked, “CGC is pleased to partner with OCBC Al-Amin in advancing a more inclusive and resilient entrepreneurial landscape. The new RM100 million PG-i tranche reflects a strategic push to channel financing where it can generate meaningful economic impact. By focusing on Bumiputera and women-led MSMEs, we are not only addressing financing gaps but also empowering segments that are vital to Malaysia’s future growth.”

Tuan Syed Abdull Aziz added that the PG-i is available to SMEs via OCBC Al-Amin’s Entrepreneur Fund-i.

“Our approach provides greater convenience to those seeking financing as it quickens the process of securing it, allowing them to focus then on implementing their business growth plans,” he said.

OCBC Bank, through OCBC Al-Amin initially, became a prime mover of the initiative to make unsecured financing available when it first introduced OCBC Al-Amin Business Cash-i (BC-i) in 2014. It also rolled out the country’s first SME wholesale guarantee in response to study results that highlighted lack of collateral as the biggest constraint to obtaining financing.

SMEs interested to know more about the PG-i may contact OCBC Al-Amin’s Business Service Centre at +60383149090 or visit https://www.ocbc.com.my/OCBCAL_Amin/business-banking-i/financing/working-capital/entrepreneur-fund-i

As part of an ongoing promotion with the signing of the PG-i agreement, SMEs that sign up for it will be eligible for a Business Banking Reducing Term Takaful (BBRTT) with a cash rebate of up to 2 months on their BBRTT contribution.