KUANTAN: A total of 334 micro-entrepreneurs in Pahang have been selected to receive i-TEKAD grants totalling more than RM1 million to help them buy assets and expand their businesses.
Bank Muamalat Malaysia Berhad's Social Finance Department head, Zaharuddin Alias, said the grants amounting to RM1.67 million were issued to help B40 and asnaf group entrepreneurs succeed in business and become zakat payers.
"The participants selected are from the food and beverage sector, GIG entrepreneurs, and agro-entrepreneurs.
"The maximum grant amount is RM5,000, which is used to purchase equipment to improve business management, in addition to receiving training funded by Bank Muamalat," he said at the handover ceremony of Bank Muamalat's i-TEKAD grant certificates to selected micro-entrepreneurs at the Financial Literacy Carnival here yesterday.
He added that Bank Muamalat's i-TEKAD has assisted 2,274 entrepreneurs nationwide with an allocation of RM20.6 million from 2020 to 2023.
Meanwhile, one of the recipients, Norfarhana Abd Mubin, 36, said the grant helped her further expand her pet shop business, which she has been involved in since 2016.
"Previously, my pet shop only offered services for managing cats, providing accommodation, and spas. With this assistance, I intend to enhance the services by opening a cafe as well.
"This grant can help me buy the necessary equipment to open the cafe," she said.
Another entrepreneur who received the grant, Mohamad Razarul Airifin Abdul Razak, 35, said the assistance will enable him buy a machine costing RM5,000 that he had long wanted for his craft product company, to increase production and income.
In addition to the grants, recipients were also provided with six months of training related to management, marketing, and skills.