14/09/2023 04:06 PM

By Siti Noor Afera Bt Abu

KUALA LUMPUR, Sept 14 (Bernama) -- Affin Islamic Bank Bhd sees the 19th Malaysia International Halal Showcase (MIHAS) 2023 as a robust platform for both international and local players to seize opportunities in the halal industry as a whole.

Chief executive officer Datuk Syed Mashafuddin Syed Badarudin said that being one of Malaysia’s financial institutions, the bank has come forward to promote and offer its range of products and services to all businesses in the halal industry, particularly via the trade fair.

For instance, the bank has numerous products and services offered to potential clients, such as Affin SMEmerge-i and Affin BizDana-i.

“These products are currently offered to the small and medium enterprise (SME) start-ups and businesses in operation within six to 36 months for the purpose of working capital.

“The products are offered with guarantees from Credit Guarantee Corporation Bhd and Syarikat Jaminan Pembiayaan Perniagaan Bhd for the financing facility,” he told Bernama on the sidelines of MIHAS 2023 here on Wednesday.

Syed Mashafuddin said Affin Islamic also provides sustainable financing products for businesses, such as Affin BizSolar-i, to help SMEs purchase and install solar photovoltaic systems at their business properties, with financing of up to RM5 million and tenure of up to 10 years.

Additionally, for Affin Solar Financing-i, the bank provides flexible financing tenure of up to 10 years, ranging from RM20,000 to RM150,000, with various payment mode options.

Participating in MIHAS has helped the banking group expand its client portfolio beyond borders simply because the exhibition gathers many international players, he stressed.

The group gets to explore more companies in different sectors of the halal industry. 

Additionally, the bank wants to show support to the global halal markets, namely the halal food, pharmaceuticals, cosmetics, tourism and logistics industries, as well as the Islamic finance sector.

“I think it is not just about Affin. We want to be able to support the entire ecosystem and to really help the country fulfil the potential that the Prime Minister and the Investment, Trade and Industry Minister had mentioned at the opening ceremony. We believe that it will happen from this event.

“We are fully confident that there will be a lot more trade exports. The increase in the halal economy will be there not just for the large corporations but the micro and SME segments as well. And we are here to support these companies,” he said.

Furthermore, Syed Mashafuddin said the group is now pursuing its A25 plan in order to achieve "Responsible Banking with Impact".

This journey begins with delivering sustainable finance as one of the strategies for all businesses.

“We believe that this is how we can continue to play an important part in driving sustainability, supporting ethical finance and addressing critical global concerns while providing our customers with a seamless banking experience,” he said.

Meanwhile, under the A25 plan, the banking group targets 10 per cent of its total financing portfolio to be from sustainable products and services by 2025.

Affin Bank Bhd group corporate banking executive director Hanif Mohd Yusof said the bank is targeting up to seven per cent of this year's total financing portfolio to account for green financing.

“We always tell our customers, especially those in the SME, commercial and mid-market segments, that we are in it together (to drive towards sustainability).

“They really require guidance because the environmental, social, and governance (ESG) (framework) is a totally new area for them to understand and implement,” he added.




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