Mohammed Iswandi Kassan Anuar
JAKARTA, July 4 (Bernama) – The Association of Development Financial Institutions Malaysia (ADFIM) is exploring and assessing Indonesia’s dynamic development financing and entrepreneurship ecosystem through a study trip to the Republic of Indonesia.
ADFIM chairman and Perbadanan Usahwan Nasional (PUNB) chief executive officer (CEO) Izwan Zainuddin said the delegation learned about innovative fundraising strategies and products especially for underserved communities.
“We hope that we can understand best practices, expand financial inclusion, empower entrepreneurs, develop innovative financial products, improve the structure and effectiveness of institutions and build cooperation networks,” he told Bernama.
Izwan said he is committed to bringing back valuable insights on development financing and strengthening Malaysia’s entrepreneurial ecosystem to further drive inclusive and sustainable economic growth.
The ADFIM delegation also included representatives from Malaysian Development Financial Institutions (DFIs) including Bank Pertanian Malaysia Bhd (Agrobank), Bank Kerjasama Rakyat Malaysia Bhd (Bank Rakyat), Bank Pembangunan Malaysia Bhd, Export-Import Bank of Malaysia Bhd (EXIM Bank), Small Medium Enterprise Development Bank Malaysia Bhd (SME Bank), PUNB, Perbadanan Nasional Bhd (Pernas), Malaysian Industrial Development Finance Bhd (MIDF) and Amanah Ikhtiar Malaysia.
The delegation also visited key institutions in Jakarta from July 1 to 6, namely the Indonesian Banking Development Institute (LPPI), Bank Indonesia, Bank Indonesia Stock Exchange, Indonesian Syariah Banking Association, Bank of Indonesia (BRI), and Bank of Indonesia (PNM).
Key discussions focused on the development of innovative financing products, entrepreneurship development strategies, financial inclusion and the use of technology in financing.
ADFIM Secretary General Mohammed Prasad Hanif stressed that the association will consolidate knowledge and strategies gained to develop lending products to achieve financial inclusion.
“We will work to improve access to financing for underserved communities through the development of new distribution channels, including through the use of digital and financial technology (fintech) platforms.”
“This will enable more small business entrepreneurs from rural and marginalized communities to access the capital they need to start up or expand their businesses,” he said.
Other efforts include empowering entrepreneurs through strengthening comprehensive entrepreneurship development programs and working with Malaysian financial authorities to develop policies and regulations that support financial inclusion and entrepreneurial development.
“We will also strengthen collaboration with Indonesian financial institutions and development agencies to exchange knowledge and resources.”
“This includes the possibility of signing a memorandum of understanding and a strategic cooperation agreement to expand the entrepreneurial and financial support network between the two countries,” Mohammed Prasad added.
— Bernama
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