Deputy Finance Minister Datuk Dr Ng Yen Yen has urged banks to help small- and medium- scale enterprises (SMEs), including those that undertake risky ventures, to get off the ground.
Financial institutions should not only look at profitability when giving financial support to SMEs, she said.
The banks, when disbursing funds, should look to help those undertaking risky ventures such as pilot projects undertaken by SMEs to ensure they get a sound start, the deputy minister said.
“I think banks should take reasonable risks in helping SMEs grow. This is about innovation and creativity,” she told reporters after delivering a keynote address at the National Economic Forum jointly organised by the Associated Chinese Chambers of Commerce and Industry in Malaysia (ACCCIM) and Hong Leong Bank Bhd.
“Banks should look into those who have never done business in their lives. A portion of loans should be given to them,” she said.
