Kuala lumpur: Agrobank is set to launch a nationwide roadshow starting in August with the aim of helping over 5,000 hawkers and small traders transition to digital business solutions. The initiative is part of a strategic collaboration agreement signed with the Federation of Malay Hawkers and Small Traders Associations of Malaysia (GPPPKMM).
According to BERNAMA News Agency, the collaboration will enable Agrobank to directly engage with traders across the country. Agrobank Group president and chief executive officer Datuk Tengku Ahmad Badli Shah Raja Hussin emphasized that this partnership offers an opportunity for the financial institution to provide financial services, financing facilities, banking services, and digitalisation support to hawkers.
The roadshow, scheduled from August to November, aims to open more than 5,000 accounts for hawkers. Tengku Ahmad Badli Shah noted that the outreach programme aligns with the Prime Minister's call to engage more closely with small traders. To date, Agrobank's outreach efforts at 10 farmers' markets have generated financing applications exceeding RM10 million.
GPPPKMM president Datuk Zainal Abidin Abd Majid expressed gratitude for Agrobank's tailored financial products designed specifically for hawkers. He highlighted that the new approach would particularly benefit hawkers in rural areas, helping them catch up in the digital economy.
The Agro Penjaja-i initiative will offer microentrepreneurs a comprehensive financial ecosystem, including 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 promote cashless transactions, the package will also include a DuitNow QR SoundBox device, enhancing transaction safety and helping traders avoid fake payment scams.
Participants in the programme will receive free financial literacy training, business mentoring, and monitoring for three months, along with advisory services and specialised financing to obtain JAKIM halal certification.