SMCCI, Maybank Ink MoU To Boost Halal Intiative, SMEs Growth In JS-SEZ

KUALA LUMPUR, July 11 (Bernama) -- The Singapore Malay Chamber of Commerce and Industry (SMCCI) has signed a memorandum of understanding (MOU) with Maybank Singapore Ltd to advance Halal-focused initiatives and support the growth of small and medium enterprises (SMEs) in both countries. 

In a joint statement today, SMCCI and Maybank Singapore stated that the partnership will focus on the Johor-Singapore Special Economic Zone (JS-SEZ) and will extend across the wider ASEAN region.

“SMCCI will provide guidance to its members on business setup, market entry, workspace solutions, policy updates and market intelligence.

“Maybank will complement SMCCI’s efforts with its full suite of banking solutions, while continuing its successful collaboration through its ‘myimpact Microbusiness Programme’, which empowers underserved entrepreneurs through business training, mentorship, and seed funding,” it said.

Approximately 300 SMCCI members are expected to benefit from enhanced support and expanded regional opportunities.

SMCCI president Dr Abdul Malik Hassan said that the chamber is seeing a rising demand from its members to explore opportunities in the JS-SEZ and the region, especially in the Halal sector.

“By partnering with Maybank, we are strengthening the support ecosystem for entrepreneurs who are ready to take that step. Together, we aim to make cross-border growth more accessible and assist Malay/Muslim-owned enterprises in Singapore navigate the regional landscape,” he said.

Maybank Singapore Islamic Banking head Sazzali Sabandi said that the Halal economy is a fast-growing sector with enormous potential across ASEAN. 

He said emerging interests from Thailand, Vietnam, and Cambodia are gaining a slice of the global Halal market, which is estimated to reach US$5 trillion (US$1 = RM4.24) by 2030. 

“With Maybank’s presence in all 10 ASEAN countries, we are able to support SMEs with the right tools and financial solutions to seize cross-border opportunities,” he added.

--BERNAMA