Bank Negara Malaysia’s Request for Feedback From Microentrepreneurs on the Skim Pembiayaan Mikro (SPM) |

BANK NEGARA MALAYSIA’S REQUEST FOR FEEDBACK FROM MICROENTREPRENEURS ON THE SKIM PEMBIAYAAN MIKRO (SPM)

Bank Negara Malaysia (BNM) is currently conducting a review of Skim Pembiayaan Mikro (SPM) to enhance the scheme to better meet the loan/financing needs of microentrepreneurs in Malaysia.

SPM is one of the funding sources for microentrepreneurs to obtain business loans up to RM50,000 without collateral from financial institutions (further information on the list of financial institutions and the SPM products they offer can be accessed via the link: https://www.bnm.gov.my/documents/20124/761712/Comparative_Table_Pembiayaan_Mikro_2023_Eng.pdf.

Therefore, as mentioned in paragraph 8.1 of the SPM Exposure Draft, BNM seeks the views and suggestions of microentrepreneurs regarding SPM to improve the features of loan products that must be offered by participating financial institutions of SPM, especially in terms of financing sizes, where currently:

financing size must start from as small as RM5, 000; and
maximum loan amount is up to RM50,000 only.

The SPM Exposure Draft can be found at this link: https://www.bnm.gov.my/-/ed-spm.

BNM hopes to receive feedback from members to facilitate their efforts to further improve access to loan facilities for microentrepreneurs through SPM. Members can submit any inquiries and feedback regarding the SPM Exposure Draft by completing the attach feedback form and email it to Ms Norhanisa at mbam22@mbam.org.my by 31 March 2024.

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