Ekuinas sets up RM10 mln fund for 4,000 micro, small Bumiputera enterprises

KUALA LUMPUR: Ekuiti Nasional Bhd (Ekuinas), through its Iltizam Entrepreneur Mentor Programme (EMP) Ihsan and the cooperation of 14 state zakat entities, will allocate a RM10 million fund to help 4,000 micro and small Bumiputera enterprises hit by the pandemic crisis.

Chief executive officer Syed Yasir Arafat Syed Abd Kadir said RM1.5 million has been disbursed so far to zakat management entities in three states, namely Selangor, Kedah and Pulau Pinang.

“The objective of EMP Ihsan is to help micro and small enterprises revive their business so that they can make a living. The programme also helps in reviving the national economy in the long term. We all have a role to play in helping to revive the nation’s economy, not just the government,” he said at the virtual launch of the Iltizam EMP Ihsan here today.

Through the rollout of Iltizam EMP Ihsan in the next eight months, Ekuinas will provide one-off financial assistance of RM2,000 to each business to serve as working capital, capital for expansion into new areas, as well as operational expenses such as rental, salaries and utilities.

Ekuinas will reach out to the affected businesses by collaborating with all zakat management entities across the country.

There are specific qualifying criteria such as being registered with the Companies Commission of Malaysia, city councils or community leaders and are owned by entrepreneurs that come from the B40 group. - Bernama