KUALA LUMPUR: Agrobank will launch a nationwide roadshow beginning in August to help more than 5,000 hawkers and small traders adopt digital business solutions.
The initiative follows a strategic collaboration agreement signed tonight between Agrobank and the Federation of Malay Hawkers and Small Traders Associations of Malaysia (GPPPKMM).
Agrobank Group president and chief executive officer Datuk Tengku Ahmad Badli Shah Raja Hussin said the partnership would enable the financial institution to engage directly with traders across the country.
“This creates an opportunity for us to reach out to hawkers and provide them with financial services, financing facilities, other banking services, as well as digitalisation support,” he told reporters after the Agrobank-GPPPKMM Strategic Collaboration Signing Ceremony and Dinner here.
He said Agrobank would also leverage the association’s nationwide network to provide financial advisory and marketing support to help hawkers expand their businesses.
“From August to November, we are targeting the opening of more than 5,000 accounts for hawkers through this initiative,” he said.
Tengku Ahmad Badli Shah added that the outreach programme is in line with the Prime Minister’s call to engage more closely with small traders. To date, Agrobank has conducted outreach programmes at 10 farmers’ markets, generating financing applications worth more than RM10 million.
Meanwhile, GPPPKMM president Datuk Zainal Abidin Abd Majid expressed appreciation to Agrobank for introducing financial products tailored specifically to the needs of hawkers.
“Previously, most financial products were not customised for hawkers. However, after several discussions with Agrobank, we have developed an approach that better suits their needs,” he said.
He added that the new formula is expected to strengthen hawkers nationwide, particularly those in rural areas who are still lagging behind in the digital economy.
Zainal Abidin said GPPPKMM will join Agrobank in the nationwide roadshow to engage with hawkers and identify the forms of assistance they require.
Under the Agro Penjaja-i initiative, microentrepreneurs will be offered a comprehensive financial ecosystem that includes a special profit-rate savings account, a Micro Financing Scheme of up to RM100,000, a Cashline-i credit facility of RM5,000, and Ar-Rahnu financing of up to RM300,000.
To encourage cashless transactions, the package also includes a DuitNow QR SoundBox device priced from RM114, enabling safer daily transactions while helping traders avoid fake payment receipt scams.
Participants will also receive free financial literacy training, business mentoring, and three months of monitoring, in addition to advisory services and specialised financing to obtain JAKIM halal certification. – BERNAMA
