Hong Leong Islamic Bank Introduces a New Social Finance Programme for Underserved Micro-Entrepreneurs

Hong Leong Islamic Bank (HLISB) has rolled out a brand new social finance programme, ‘HLB Jumpstart – Micro Business’ as part of its Value-Based Intermediation (VBI) offerings, in line with social finance to play a greater role in advancing financial inclusion and enabling social development in the country,

This programme will provide funding to individuals who may not have the opportunities and means to secure full-time employment or to aspiring entrepreneurs who lack credit history and the opportunity for them to start their own small businesses.

The ultimate goal is to help underserved micro-entrepreneurs, which can include gig economy workers, homemakers, and thin-file individuals, improve their livelihoods by having a sustainable source of income.

With this new social finance initiative, HLISB will disperse funding through its two partners – MADCash and AlfieTech, and provide zero-profit financing and capital opportunities to start a business, as well as mentorship and training on how to manage the business.

Source : BUSINESS TODAY