BNM to revamp its fund for SMEs deployment

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BNM to revamp its fund for SMEs deployment
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(Reuters) -FIFPRO has started legal action against world soccer's governing body FIFA over the expanded men's Club World Cup, the global players' union said on Thursday.

KUALA LUMPUR: Bank Negara Malaysia is set to revamp its Fund for Small and Medium Enterprises to better align it according to the latter’s needs, its Deputy Governor Datuk Jessica Chew said.

The ADF, which was established in March 2020, aims to encourage SMEs across sectors to automate processes and digitalise operations to increase productivity and efficiency. "Perhaps they are not necessarily on the path of digitalisation. So, there is a lot to be done in terms of how we can align those imperatives for SMEs as well,” she said.

Besides ADF, BNM also offers the RM1.1 billion High-Tech and Green Facility, which is designed to help SMEs and innovative start-ups grow their businesses and invest in strategic sectors and technologies fields for a sustainable and entrenched economic recovery.

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