08/09/2025

MONDAY | SEPT 8, 2025

12

BANKING & INSURANCE

OCBC Al-Amin, CGC roll out RM100m Islamic portfolio guarantee scheme PETALING JAYA: OCBC Al-Amin Bank Bhd has signed a RM100 million Islamic Portfolio Guarantee-i (PG-i) agreement with Credit Guarantee Corporation Malaysia Bhd (CGC) to support the growth of Bumiputera and women-led enterprises. Prior to this, OCBC Al-Amin had already disbursed a total of RM268 million in PG-i schemes with CGC since 2017. The latest PG-i tranche comes without the need for collateral for up to 50% of the approved financing amount. Maximum financing is RM600,000 for a tenure of up to seven years. CEO Syed Abdull Aziz Syed Kechik said, “We are, once again, pleased to be collaborating with CGC on the rollout of an Islamic portfolio guarantee scheme. Importantly, this time round, we are looking to direct the RM100 million in financing at catalysing the growth of Bumiputera and women-led enterprises. “We are committed to fostering inclusive economic growth by em powering Bumiputera and women entre preneurs. Through targeted financial solutions and strategic partnerships, we aim to enhance access to financing and market opportunities for SMEs led by these communities. We look forward to nurturing sustainable business growth, driving innovation and unlocking the full potential of Malaysia’s diverse business community.” While the bank’s latest PG-i scheme is aimed at benefiting Bumiputera and women-led enterprises, it is open to all SMEs in the country. CGC president and CEO Datuk Mohd Zamree Mohd Ishak said,“CGC is pleased to partner with OCBC Al-Amin in advancing a more inclusive and resilient entrepreneurial landscape. The new RM100 million PG-i tranche reflects a strategic push to channel financing where it can generate meaning ful economic impact. By focusing on Bumiputera and women-led MSMEs, we are not only addressing financing gaps but also empowering segments that are vital to Malaysia’s future growth.” The PG-i is available to SMEs via OCBC Al-Amin’s Entrepreneur Fund-i. “Our approach provides greater convenience to those seeking financing as it quickens the process of securing it, allowing them to focus then on implementing their business growth plans,” said Syed Abdull Aziz.

MCIS Insurance says 2024 ‘brought out the best in us’

PETALING JAYA: MCIS Insurance Bhd (MCIS Life) has reaffirmed its long-term commitment to sustain able growth, inclusive protection and operational excellence, follow ing a transformative year that tested the resilience of Malaysia’s insurance sector. Its CEO, Prasheem Seebran ( pic ), said MCIS Life’s strategic trans-formation in 2024 remained firmly rooted in its core purpose – protecting lives, creating enduring value and serving communities with empathy and innovation. He said in a statement, “2024 was a defining year for MCIS Life. It brought out the best in us, re affirmed our values, strengthened our purpose and sharpened our strategic focus. We responded with agility, discipline and an un wavering drive to innovate and make a meaningful impact. “Through disciplined execution and innovation, we have emerged stronger and better positioned to deliver sustainable value for our policyholders, partners and share holders.” Despite global economic head winds and rising healthcare costs affecting the wider industry, MCIS Life delivered a solid performance in 2024 while laying the ground work for future growth. The company recorded a 13.7% increase in annual premium equi valent (APE) to RM219.7 million, along with a 5.9% year-on-year

In parallel, MCIS Life is deepening its environmental, social and governance efforts. Its flagship Purple Truck initiative, in collaboration with the National Cancer Society Malaysia, provided preventive screenings and free HPV vacci nations to more than 22,000 Malaysians in 2024. The solar powered mobile health unit was upgraded with improved accessi bility features to better serve underserved communities. Meanwhile, the MCIS Life Legacy Forest initiative expanded with additional native tree plant ings to support biodiversity and carbon offsetting, reinforcing the company’s commitment to achieving net-zero emissions by 2050. “ESG principles are now fully embedded into our investment strategy, allowing us to align financial performance with long term societal impact,” said Prasheem. Looking ahead, he said: “MCIS Life is continuously building a stronger, more inclusive, and digitally agile business – one that puts people and purpose at the heart of everything we do. “With the strength of our people, the trust of our partners, and the clarity of our long-term vision, we are confident in our ability to deliver sustainable, im pactful and future-ready value.”

o Company reaffirms long-term commitment to sustainable growth, inclusive protection and operational excellence after ‘defining year’

agent activation, per sistency and perfor mance across both new and existing markets,” said Pras heem. To boost opera tional efficiency and enhance the customer experience, the com pany is introducing a new policy admini stration system for its group and affinity businesses.

growth gross written premiums to RM767.1 million, dri ven by strong contri butions from both agency and group distribution chan nels. The growth was achieved despite a surge in medical claims due to escala ting healthcare costs. In response, MCIS Life is implementing in

This system will strengthen scalability, streamline operations and reduce turnaround times, particularly for high-volume cor porate clients in the employee benefits segment. “Our increased use of data driven insights has enabled us to manage risk more effectively, personalise offerings to meet evolving customer needs, and de liver more engaging experiences. This positions us well for a more agile and digitally empowered future,” said Prasheem.

a structured medical insurance management strategy in 2025 to ensure product affordability and long-term viability, in alignment with regulatory requirements and its customer-first approach. As part of its transformation, MCIS Life expanded and diver sified its agency force, onboarding 610 new agents during the latest financial year. “We also made strategic invest ments in enhanced training, pro ductivity tools, and structured incentive programmes to improve

AmBank reaches pinnacle of 50th anniversary celebration in Sabah PETALING JAYA: AmBank Group has marked the pinnacle of its 50th anniversary celebration with a dual purpose initiative in Sabah – an expedition to Mount Kinabalu and a sustainability outreach at Sekolah Kebangsaan Kundasang (SK Kun dasang). The initiative reflect its long standing values that embraces the true spirit of Malaysia Kita . In honour of AmBank Group’s golden jubilee, 50 AmBankers scaled the summit of Mount Kinabalu in Sabah. Group CEO Jamie Ling said“This is a significant milestone in AmBank’s 50-year progress. The climb to Mount Kinabalu’s peak by 50 of our very own workforce is both a physical and symbolic achievement. Their ascent represents the determination and dedication that define us as an organisation, and how committed we are to continue this path with purpose and resilience.” As part of the celebration, AmBank has implemented environmental, social and governance initiatives at SK Kundasang, a Bestari primary school. The school is recognised as a Unesco associated institution following its strong focus on environmental education, through its Taman Eko Sains . It is also the first adopted school under the Kinabalu Geopark initiative. AmBank has contributed three units of Huawei Ideahub smart boards to enhance digital learning in classrooms and a collection of educational books to support literacy development. During the visit, Ling, AmBank board members, senior management and employees planted 50 cheese avocado trees to promote biodiversity in the school compound and promote practical environmental education.

HLB Meezani Account-i rewards investors for good financial habits PETALING JAYA: Hong Leong Islamic Bank (HLISB) has launched the HLB Meezani Account-i, a syariah compliant investment account that enables customers to grow their wealth through ethical investments, all while enjoying opportunities to earn rewards. Account structure. With this solution, the bank gives customers the chance to receive rewards given out through daily, weekly, monthly, quarterly and yearly draws, while equipping them with a simple tool to grow their wealth. Meezani Account-i recent launch, making this one of the largest rewards initiatives in the market this year. financial habits. “Through this, we hope to empower all Malaysians, from young families and gig economy workers, to business owners, professionals and aspiring investors, enabling them to grow their wealth with one single account while being rewarded regularly.” sonal financial services Andrew Jong said, “The HLB Meezani Account-i is another exciting and customer centric addition to our compre hensive suite of retail products, anchored on value propositions that are relevant to our customers and resonate with their choices, aspi rations.”

CEO Dafinah Ahmed Hilmi said, “As we reflect on two decades of pioneering Islamic banking solu tions, HLISB remains deeply com mitted to designing innovative products that meet our customers’ needs and help them achieve their financial goals. The HLB Meezani Account-i is a testament to this, where we not only provide cus tomers with an accessible invest ment and savings tool, but also reward customers for their good

Banking & Finance HLISB has committed to re warding more than 23,000 cus tomers in the first year of the HLB By maintaining a fund balance of as low as RM100, customers will get the opportunity to receive rewards such as new vehicles, umrah pack ages, travel, and discounts on edu cation, in addition to daily cashbacks and more.

The HLB Meezani Account-i is designed to be both an accessible investment solution and a con venient savings tool. This is achieved by providing customers with an investment account that does not come with fixed tenures or complex requirements, through its Unrestricted Investment

This account, he added, with its low barrier of entry and rewarding, flexible structure, empowers new and seasoned customers alike by providing them with a seamless and safe option to secure their savings for the future, while providing the means to meet today’s needs.

The HLB Meezani Account-i allows customers to deposit, withdraw and transfer funds at any time. Customers can also link the account to an existing HLB Debit Card-i and access it through HLB Connect Online and mobile banking platforms. HLB managing director of per

Education News/Health & Wellness TUES

ESG

Property

WED

MON

THUR