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The Ministry of Entrepreneur Development and Cooperatives has distributed nearly RM9 billion to 250,000 micro, small and medium enterprises through its Power Up 10K initiative, with plans to reach RM15 billion annually.
Credit Guarantee Corporation Malaysia honoured 32 MSMEs and financial institutions at its 31st awards ceremony. New RM10 billion Bank Negara Malaysia-CGC guarantee schemes launched to support business expansion and sustainability.
India is implementing a unified customer identification system called CKYC 2.0 across banking, insurance, and investment sectors, allowing customers to access multiple financial products without repeated document submission. The rollout begins in August.
CIMB Islamic Bank is introducing the Lite-i credit card, a stripped-down alternative with a 14% profit rate, zero annual fees, and non-compounding interest designed for Malaysian consumers seeking affordable daily credit solutions.