BANK Muamalat Malaysia Bhd and CIMB Islamic Bank Bhd are joining Bank Islam Malaysia Bhd in the iTEKAD 2.0 programme to amplify it further to better serve the asnaf and B40 (bottom 40% income group) communities in surviving the pandemic effects.Launched in May 2020, iTEKAD offers seed capital with an affordable microfinancing arrangement to eligible applicants.It aims to empower eligible micro-entrepreneurs among asnaf and B40 individuals to achieve financial resilience, generate sustainable income, and contribute to the community.
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Bank-islam
MDEC and CIMB Islamic sign MoU providing RM25 million to scale AgTech pilot
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Cyberjaya, 2 April 2021: The Malaysia Digital Economy Corporation (MDEC) and CIMB Islamic Bank Berhad (“CIMB Islamic”) today signed a memorandum of understanding (MoU) on extending an extensive micro-financing programme with an allocation of RM10 million as an initial funding package to catalyse Digital Agriculture Technology (Digital Agtech) in Malaysia. This allocation has the potential to be increased to RM25 million as the programme progresses.
MDEC, a long-time proponent of digitalising the agriculture sector, via a public-private partnership with the Pertubuhan Peladang Kawasan Kuala Langat (PPKKL), initiated a pilot project in 2018 to spur yield and quality of crops utilising the latest technologies. It has seen farmers adopting an Internet of Things (IoT)-enabled fertigation system that helped them reduce monthly fertiliser usage by 20 percent, lower monthly manpower requiremen
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