Salaam Market Aims To Onboard 10,000 MSMEs By 2025

GEORGE TOWN, Dec 20 (Bernama) -- Salaam Market, Malaysia’s first wholesale halal marketplace, aims to onboard 10,000 micro, small and medium enterprises (MSMEs) by 2025. 

Macro Tech Ventures Sdn Bhd, known as Borong, a business-to-business (B2B) e-commerce software and platform aggregator, inaugurated Salaam Market with Maybank Islamic at the Penang International Halal Expo 2024 in the presence of Prime Minister Datuk Seri Anwar Ibrahim on Dec 7.

In a statement, Salaam Market said the platform solidifies the strategic partnership between Borong and Maybank Islamic, constituting an integral part in advancing Malaysia’s halal industry to grow to an estimated US$113.2 billion (US$1 = RM4.50) by 2030. 

“The platform is a major step forward for local businesses looking to expand their reach both locally and regionally, positioning Malaysia as a leader in the global halal market,” it said.

Borong co-founder Aizat Rahim said Salaam Market addresses key challenges faced by halal industry players, including affordability and accessibility, by partnering with Maybank Islamic for financing solutions and leveraging on the support of the Department of Islamic Development Malaysia’s (Jakim) for halal certification.

Meanwhile, Maybank Islamic’s strategic programme director, Muhd Ramadhan Fitri Ellias, said Salaam Market is one of the bank’s “beyond banking” propositions supporting the needs of local MSMEs to complete the halal ecosystem.

“Halal industry players can grow their businesses through seamless financing and in-house halal facilitation guidance,” he added.

To reward emerging businesses, Salaam Market is now offering a limited-time discount of RM100 with a minimum spend of RM250 for all purchases made until Jan 1, 2025.

--BERNAMA