Agrobank Expects 700,000 Registered Hawkers To Benefit From Agro Penjaja-i

PUTRAJAYA, May 13 (Bernama) -- About 700,000 hawkers registered under hawker associations are expected to benefit from the Agro Penjaja-i initiative launched today, said Agrobank president and chief executive officer Datuk Tengku Ahmad Badli Shah Raja Hussin.

Speaking at a press conference after the Agro Penjaja-i launch here today, Tengku Ahmad Badli Shah said the initiative targets small traders, especially hawkers, by offering among others, financing and advisory services as well as digital financial management savings.

"We also provide loans between RM5,000 and RM100,000 to help hawkers expand their businesses, buy equipment and strengthen their businesses in the future.

"We also provide hibah or profit on savings in Agro Penjaja-i accounts and are protected by takaful as low as RM10 a year," he said at a press conference after the Agro Penjaja-i launch ceremony here today.

The launch ceremony was officiated by Minister of Agriculture and Food Security Datuk Seri Mohamad Sabu.

Tengku Ahmad Badli Shah said Agrobank also offers a 'green lane' specialisation for Ar-Rahnu processing up to RM300,000, with special rates and profits from hawkers' savings.

He said that among the terms and conditions that must be met are that hawkers must register with the hawker associations and the local authorities (PBT) to obtain approval or a license to carry out business activities.

"Approval will be made based on the hawkers' ability to pay and their own needs, even if they also receive funding from government agencies such as Tekun Nasional," he said.

In addition, he said, through the initiative, his party will also provide free advisory services and individual guidance for three months, to assist hawkers in financial management and marketing.

Earlier in his launching speech, Mohamad said the initiative coincided with the inspiration of the MADANI Government to help hawkers and entrepreneurs to overcome various challenges due to the current global energy crisis.

"Agro Penjaja-i is Agrobank's holistic approach in empowering the hawker community and micro-entrepreneurs who are among the backbones of the country's economy.

"Through this initiative, we not only provide easy and inclusive access to financing, but also help them improve their entrepreneurial knowledge, financial management and business digitalisation capabilities," he said.

-- BERNAMA