Kuala lumpur: CIMB Bank Berhad ('CIMB' or 'the Bank') has signed a Collaboration Agreement ('Collaboration') with Pharmaniaga Logistics Sdn Bhd, a wholly owned subsidiary of Pharmaniaga Berhad ('Pharmaniaga') to enhance supply chain financing and ease payment flexibility for small and medium enterprises ('SMEs') in the healthcare sector. The partnership aims to provide greater financial flexibility to clinics, pharmacies, and medical buyers across the sector.

According to BERNAMA News Agency, under the Collaboration, CIMB and Pharmaniaga will offer enhanced payment flexibility to downstream buyers, including private clinics and independent pharmacies, through the CIMB SME BusinessCard ('the Card'). Businesses can enjoy up to 50 days of extended credit when purchasing medical supplies using the Card and receive unlimited 0.5% cash rebate on all Pharmaniaga purchases. This offers a valuable incentive to improve cash flow and optimise working capital.