AEON Bank, Malaysia’s first digital Islamic bank, has partnered with MADCash to launch the ‘GrowthStart’ iTEKAD programme.
The programme aims to empower 100 female microentrepreneurs from B40 communities.
The programme, aligned with Bank Negara Malaysia’s iTEKAD initiative, will provide coaching, mentorship, and digital skills training to help these women grow their businesses.
‘GrowthStart’, a joint effort by AEON Bank and MADCash, a fintech company focused on female empowerment, will run from February 2025 to August 2026.
Participants will be selected from Selangor, Kedah, Negeri Sembilan, and Johor in three batches.
The first batch of 50 entrepreneurs, representing various sectors like F&B, education, and health and beauty, will begin the programme in February 2025.
Over six months, they will participate in workshops, both online and in-person, and receive coaching and mentorship.
Subsequent batches of 25 participants each will follow at six-month intervals.
Each participant will receive RM2000 in Qard financing, in line with AEON Bank’s Shariah principles.
The programme is open to women between the ages of 18 and 60 who earn a monthly income of less than RM4,000.
Applicants must have been operating their businesses for at least three months, including small businesses, vendors, and home-based enterprises.
Participants are also required to have access to the internet and basic IT literacy.
Individuals with CCRIS or CTOS records are eligible to apply, and those without an SSM (Companies Commission of Malaysia) registration may also participate.
YM Raja Datin Paduka Teh Maimunah Raja Abdul Aziz, CEO of AEON Bank, said,
“AEON Bank’s ‘GrowthStart’ programme demonstrates our dedication to financial inclusion by supporting female microentrepreneurs with untapped potential. Many of these women struggle to secure business funding and they need the right coaching, especially online entrepreneurial know-how to help them grow their business.
Our strategic collaboration with MADCash will address these challenges head-on. By providing seed capital, hands-on business mentorship, targeted skills training, we are fostering self-sufficiency and empowering them to achieve their entrepreneurial dreams.”
Nuraizah Shamsul Baharin, CEO of MADCash said,
“MADCash aims to empower these groups of women by helping them to develop business skills and knowledge to improve their livelihoods.
With a stronger economic foundation, they can overcome various challenges and enhance their bankability. This approach effectively promotes financial inclusion in our society. We are grateful to have partnered with AEON Bank in this journey.”
Featured image credit: Edited from Freepik
