Hong Leong Islamic Bank (HLISB) has rolled out a social
finance initiative, HLB Jumpstart – Micro Business.
It provides funding to individuals who cannot secure
full-time employment or lack a credit history, giving them the means to start a
The programme aims to help underserved micro-entrepreneurs,
including gig workers and homemakers, have a sustainable source of income.
HLISB will disburse funds through two partners, MADCash and
AlfieTech, providing zero-profit financing and capital opportunities to help
individuals start a business.
MADCash Funding: RM4,000 startup funds with a 12-month
payback tenure at a zero-profit rate
AlfieTech: RM1,500 e-commerce credit on AlfieTech's
Recipients of the funds will also be mentored and trained in
EMPOWERING UNDERSERVED COMMUNITIES
Both MADCash and AlfieTech have a common purpose of driving
financial inclusion in underserved communities.
MADCash is a syariah-compliant fintech ecosystem builder
that uses micro-funding to empower female micro-entrepreneurs to improve their
income and credit standing.
AlfieTech is an alternative data intelligence company that
also offers digital micro-financing to underserved communities.
HLISB chief executive officer Jasani Abdullah said that HLB
Jumpstart – Micro Business is an effort to have a sustainable impact on
"We are encouraged by the positive impact of AlfieTech
and MADCash on financing recipients. This proves social finance is an effective
way to narrow financing gaps in the country. Underserved communities are
empowered through better access to financial services and improved financial
"As a community bank with 'Community Investment' as a
core pillar, we are excited to partner with AlfieTech and MADCash to support
the beneficial work they are doing.
"Most importantly, we want to encourage Malaysians to
bring their business aspirations and dreams to life, and build a brighter
future for themselves, their families and their communities," he said.
HLB Jumpstart – Micro Business is a new extension under
corporate social responsibility platform HLB Jumpstart, which provides
promising entrepreneurs and social enterprises with opportunities to start
The programme also aligns with Bank Negara Malaysia's
Financial Sector Blueprint 2022 – 2026 goal to elevate social finance as an
integral part of the Islamic finance ecosystem.