BNM allocates additional RM700 mil for SME automation, digitalisation facility
KUALA LUMPUR (March 17): Bank Negara Malaysia (BNM) has announced an additional allocation of RM700 million for the SME Automation and Digitalisation Facility (ADF), bringing the facility’s total allocation to RM1 billion. The ADF, which was established in March 2020, aims to encourage small and medium enterprises (SMEs) across sectors to automate processes and digitalise operations to increase productivity and efficiency. The ADF is open to all Malaysian SMEs, with a maximum financing amount of up to RM3 million per SME and financing tenure of up to 10 years. “The financing rate is up to...