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aws试用账号(www.2km.me)_Budget 2022: Reactions from the banking sector

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Public Bank Bhd founder and chairman emeritus Tan Sri Teh Hong Piow

KUALA LUMPUR: The banking sector has reacted positively to the initiatives included in Budget 2022, which has been lauded as expansionary and with the rakyat's well-being in mind.

AMMB Holdings Bhd group CEO Datuk Sulaiman Mohd Tahir is pleased to note the Budget's support for the rakyat and businesses, with focused attention on the development of new shoots of growth, improving resilience and sustainable growth.

He praised the Syarikat Jaminan Pembiayaan Perniagaan (SJPP) Scheme, which has aided thousands of Malaysian SMEs.

"AmBank is pleased to be part of the Government’s continued support for SMEs who are the backbone of the Malaysian economy through the additional RM10 billion guarantee that will certainly catalyse domestic growth.

"We are confident SMEs will be able to capitalise on this assistance and contribute to the economy," he said.

He also commended the government's RM45mil allocation to the transformation towards Industry4WRD, as well as the initiative to appoint at least one woman to the board of directors of public-listed companies.

Maybank group president and CEO Datuk Abdul Farid Alias highlighted the importance of helping individuals and businesses transition into a recovery economy.

For lower income and vulnerable groups, he noted the enhancements to cash aids, welfare payments and the social security systems as well as measures to improve labour market conditions and reduce the unemployment rate.

He also welcomed the Budget's RM40bil allocation for grants, loans, guarantees and equities to all businesses to further support the industry and sector revivals.

"From the banking sector perspective, we welcome the expansion in housing credit guarantee and micro credit schemes to workers and businesses in the informal sectors, specifically aimed at facilitating access to financing and enabling financial inclusion," he said in a statement.

He added that the Budget had a balanced approach on infrastructure spending and investment to address the development and digital gap, human capital, sustainability, environment and climate issues.

In a statement, Public Bank Bhd chairman emeritus Tan Sri Teh Hong Piow said the Budget is appropriately balanced between reducing income inequality, expanding on targeted assistance to households and businesses, and investing into the nation's healthcare and basic infrastructure.

He made particular reference to the allocation of RM8.2bil to the newly introduced Bantuan Keluarga Malaysia programme to benefit 9.6 million recipients and RM4.8bil to create 600,000 employment opportunities.

Teh noted also the government allocation towards enhancing digital and technological infrastructure with RM30mil going towards Internet access to 40 low-cost housing schemes and RM700mil towards ensuring digital connectivity in industrial areas and schools in rural areas.

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