KUALA LUMPUR: PMB Tijari Bhd (PMB Tijari) is committed to assisting local entrepreneurs in penetrating international markets by offering financing assistance amounting to US$10 million, starting early 2020.

Its Chief Executive Officer, Wan Sazriz Wan Zaid, said the special fund is aimed at helping companies operating overseas and receiving orders and payments in US dollars.

He said this initiative aligns with PMB Tijari’s objective to offer Shariah-compliant products, as well as competitive and innovative financing. The fund targets a maximum financing of US$1 million per company in the short term, to ensure more small and medium enterprises (SMEs) benefit from this latest initiative.

“Our goal is to support companies with expertise and potential to expand into international markets.”

“Additionally, as an investment entity, we are committed to supporting entrepreneurs in challenging and strategic sectors such as aerospace, automotive, rail, renewable energy, medical devices, biotechnology, and the halal industry,” he said at a media briefing held recently.

During the session, PMB Tijari also announced the approval of Tawarruq financing totaling RM8 million for three Bumiputera companies: Usaha Teknikal Sdn Bhd, WOG Global Resources Sdn Bhd, and Enviro Exceltech Sdn Bhd.

Elaborating further, Wan Sazriz explained that this US dollar-denominated fund is intended to shield financed companies from the impact of volatile foreign exchange rates.

“We will launch the fund in January next year, and it is expected to benefit around 30 Bumiputera SMEs that have overseas business operations.”

“The financing period will be less than a year or up to a maximum of five years,” he added.

To date, PMB Tijari has offered about RM200 million in financing to nearly 100 entrepreneurs, and this figure is expected to reach RM300 million, involving 200 local entrepreneurs, by the end of the year.

Established in 2014, PMB Tijari offers three financial products: Al Ijarah (leasing), Murabahah, and Tawarruq.

Commenting on expectations for Budget 2020, Wan Sazriz expressed hope that the government will allocate special funds to Tier 2 and Tier 3 companies, which are often overlooked in terms of financing.

“As a provider of Shariah-compliant financing, we want to see these underrepresented sectors receive dedicated funds that can be directly channeled to them,” he said.

https://www.bharian.com.my/bisnes/korporat/2019/10/615077/pmb-tijari-sedia-as10-juta-biaya-pengembangan-usahawan