Malaysia’s Ministry of Entrepreneur and Cooperative Development to Simplify Lending Procedures

The Ministry of Entrepreneur and Cooperative Development (MEDAC) is expected to simplify lending procedures for entrepreneurs following various standard operating procedures (SOPs) that they need to face in order to start their business, according to Datuk Seri Wan Junaidi Tuanku Jaafar, Malaysia’s Minister of Entrepreneur and Cooperative Development.

Jaafar stated that this was due to many companies being affected by the implementation of the Movement Control Order (MCO) and the Conditional MCO, adding that the Secretary General of MEDAC has been requested to review the old complex and time-consuming processes and replace these with new procedures to simplify the process for traders.

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