KUALA LUMPUR: Bank Muamalat Malaysia Bhd, in collaboration with Credit Guarantee Corporation Malaysia Bhd (CGC), has introduced the Muamalat CGC Visa Business Platinum-i, a Shariah-compliant business credit card aimed at supporting small and medium enterprises (SMEs) and micro, small and medium enterprises (MSMEs) in Malaysia.
The card is part of the long-standing partnership between Bank Muamalat and CGC to improve access to financing for SMEs and MSMEs.
It follows last year’s launch of the First Halal Portfolio Guarantee-i Scheme, which involved a RM70 million fund.
Bank Muamalat president and chief executive officer Datuk Khairul Kamarudin said the card is designed to help businesses manage working capital and optimise cash flow.
The bank expects to issue about 2,000 cards within the first year.
Datuk Mohd Zamree Mohd Ishak, president and chief executive officer of CGC, said the initiative provides guarantees that support both entrepreneurs and financial institutions, encouraging responsible credit expansion for SMEs.
The launch aligns with the objectives of the 13th Malaysia Plan, which seeks to strengthen the SME and MSME ecosystem to improve competitiveness, productivity, and resilience.
Bank Muamalat said it is part of its broader strategy to provide innovative, Shariah-compliant financial solutions to businesses and individuals.
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