Malaysia’s CIMB Islamic to provide up to 100 mln ringgit financing for SMEs to meet halal certification
Malaysia’s CIMB Islamic will allocate up to 100 million ringgit ($23.96 million) in financing for companies that want to become halal-certified, targeting the 90% of local SMEs that do not have halal certification.
Malaysia’s deputy entrepreneur development minister said in August that 8,120 companies received halal certification in 2018, and that nine out of ten were without halal certification.
Targetting this 90%, CIMB Islamic said in a statement on Thursday (Nov 28) the financing is aimed at businesses to "become compatible with the requirements of halal certification whether by getting their premises, operations or supply chain to be in line with those requirements."
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