Bank Islam Malaysia: Islamic Social Finance Enables Financial Access to MSMEs

According to Muazzam Mohamed, Chief Executive Officer of Bank Islam Malaysia (BIM), Islamic social finance enables financial institutions (FI), such as BIM to offer funding opportunities to micro small medium enterprises (MSMEs) in a more viable way.  

Speaking at a webinar recently, Muazzam explained in the context of BIM how social finance will enable MSMEs, which typically are perceived to be a high credit risk with traditional FIs, to have access to banking services beyond traditional means.

Muazzam stated that traditional FIs’ risk management practices revolve around protecting their depositors’ monies, adding that micro-financing facilities for MSMEs in Malaysia com...