New Straits Times
7 October 2022
Budget's comprehensive direct cash aid to enable targeted groups meet pressing needs, says Affin Bank
President and group chief executive officer Datuk Wan Razly Wan Abdullah said the bank welcomed a RM200 million allocation to promote and market the local tourism industry, especially as international travel was expected to be on the rise with borders reopening across the globe. NSTP/AIZUDDIN SAAD
KUALA LUMPUR: Affin Bank Bhd says the government's comprehensive and expanded direct cash assistance under 2023 Budget will enable the targeted group to meet their most pressing needs according to their priorities.
President and group chief executive officer Datuk Wan Razly Wan Abdullah said the bank welcomed a RM200 million allocation to promote and market the local tourism industry, especially as international travel was expected to be on the rise with borders reopening across the globe.
"The growth of Malaysia's tourism industry will in turn spur more demand for the country's local goods and services," he said.
Wan Razly said small and medium enterprises (SMEs) formed the bedrock of the Malaysian economy, and they were the most vulnerable to any economic challenges.
Thus, he said various assistance for the SMEs including the RM10 billion fund under Bank Negara Malaysia and guarantee limit up to RM9 billion through Syarikat Jaminan Pembiayaan Perniagaan (SJPP) announced under the budget would further boost their ongoing recovery efforts and ensure their place in the mainstream of socio-economic developments.
"Affin Bank has taken unprecedented action over the last few years to support businesses and our customers.
"We remain confident in the resilience of the Malaysian economy to weather any challenges and will continue to play our part to help maintain a vibrant business environment that will form a foundation for a more sustainable economic growth," he said.
(Web source: https://www.nst.com.my/business/2022/10/838404/budgets-comprehensive-direct-cash-aid-enable-targeted-groups-meet-pressing)