Hdc, Solv Malaysia Team Up To Help Msmes Access Rm2.67 Bln Halal Funds

KUALA LUMPUR, Dec 12 (Bernama) -- Halal Development Corporation Bhd (HDC) today announced a strategic collaboration with Solv Sdn Bhd (Solv Malaysia) to facilitate potential avenues for micro, small and medium enterprises (MSMEs) to access the RM2.67 billion halal funds via the halal integrated platform. 

In a statement, HDC said the partnership aims to broaden and simplify access to financing, facilitating the growth of businesses in the burgeoning halal economy.

Chief executive officer Hairol Ariffein Sahari said the collaboration with Solv Malaysia is a testament to the agency’s commitment to providing tangible support for businesses that would like to access the halal financing facilities provided by the banks.

"At HDC, we recognise the pivotal role that MSMEs play in the development of the halal economy. We are looking for a practical way to provide ease of access to the financing facilities provided by financial institutions," he said.

According to HDC, the cornerstone of this collaboration is a business-to-business supply chain financing programme designed to accelerate the growth of SMEs.

It said among the key objectives of the collaboration is digital advancement in pre-qualifying SMEs for optimal pairing with suitable financial institutions and alternative lenders. 

"This innovative partnership not only streamlines the financing process but also focuses on cultivating creditworthy behaviour, empowering SMEs to construct resilient credit profiles. 

"Through a digital approach, the collaboration enhances the overall customer journey, facilitating quicker and more efficient financing for SMEs based on their merit, thereby promoting financial independence and long-term sustainability," it added. 

Solv Malaysia, incubated by Standard Chartered’s business unit SC Ventures, is a provider of innovative financial solutions for SMEs in Malaysia.

-- BERNAMA