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Budget 2023 an optimal balance to help rakyat and businesses -- CIMB

08/10/2022 01:21 AM

KUALA LUMPUR, Oct 7 (Bernama) -- Budget 2023 provides an optimal balance to help the rakyat and businesses alike to navigate an uncertain period as Malaysia continues to recover post-pandemic amid challenging global macroeconomic conditions and inflationary pressures.

In a statement today, CIMB Group Holdings Bhd’s group chief executive officer Datuk Abdul Rahman Ahmad said Budget 2023 initiatives will help to promote a more broad-based and sustainable recovery.

In view of the growing prevalence of scams and fraud, he said the bank welcomes the government’s  initiatives to set up a National Scam Response Centre (NSRC).

“On the bank’s part, we are firmly on track to fully implement the enhanced security measures against scams announced recently by Bank Negara Malaysia (BNM). We will continue to work closely with the authorities to protect consumers against fraud,” he said.

He said CIMB also welcomes the focus of various initiatives to benefit youths, the bottom 40 per cent (B40) income group and those who are self-employed or in the gig economy, as well as micro, small and medium enterprises (MSMEs) which form the backbone of the economy.

This includes various tax incentives, grants, and financing opportunities which CIMB is proud to support via programmes such as BNM’s iTEKAD initiative, he said.

“We also laud the increase in the Amanah Saham Bumiputera (ASB) and Amanah Saham Bumiputera 2 (ASB2) investment ceiling to RM300,000, which will increase Bumiputera equity ownership and participation and, in the long term, help to secure their financial resilience.

“In sustainability agenda, we were encouraged to see the allocation for flood mitigation, highlighting the urgency of climate change adaptation. Similarly, CIMB is also pleased to support initiatives such as BNM’s low carbon transition facility (LCTF) to help SMEs adopt lower carbon practices,” he said.





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