KUALA LUMPUR: Maybank Investment Bank Bhd, the investment banking arm of Maybank, will set aside RM1 million for the newly-launch Trade and Give initiative which provides micro-financing to small and medium enterprises.
Regional head, equities, managing director, Ami Moris, said the initiative, in collaboration with Amanah Ikhtiar Malaysia (AIM), would provide an average funding of RM20,000 as well as mentorship on different aspects of business operation such as marketing, financial planning and harnessing technology.
"The micro-financing fund set up for this purpose is contributed from a percentage of brokerage fees generated from trades by clients that Maybank Investment receives," she told reporters after the launch of the initiative here today.
Maybank group president/chief executive officer (CEO) Datuk Abdul Faris Alias and AIM chairman Zubir Harun launched the initiative.
Also present was Bursa Malaysia Bhd CEO Datuk Tajuddin Atan.
She said currently almost 9,000 clients contributed to the micro-financing and micro-enabling fund.
Ami said six participants, called 'sahabat', and nominated by AIM, had been chosen as the pioneers of the programme and the investment bank has targeted to increase the number to 20 by year-end.
To date, there are 437,000 'sahabat' registered with AIM.
She said the initiative was also part of Bursa Marketplace, a retail platform to provide retail investors with comprehensive, accurate and timely market data.
The initiative, incorporating the idea of inclusive development, aims to create and provide a fund for wealth creation to enhance the lives of under-served, deserving entrepreneurs.-- Bernama