KUALA LUMPUR, 18 August – Credit Guarantee Corporation Malaysia Berhad (CGC) today contributed RM200,000.00 to the International Shari’ah Research Academy for Islamic Finance’s (ISRA) Islamic Economics Textbook Project.
The said publication will provide significant benefits to the Islamic finance industry, particularly in strengthening the knowledge base by providing a source of reference for students, academicians and industry practitioners. The textbook shall contain over 20 chapters which will be incorporating inputs from academicians and relevant experts in their respective fields. Besides that, it will also contain a combination of thought-provoking case studies, discussion-based questions and references.
“I was made to understand that although there are several books on Islamic Economics, its breadth and depth are not as comprehensive and this project is expected to fill that void. CGC would like to extend our highest commendation to ISRA for initiating this project as it would be a prodigious source of information and reference for all stakeholders,” said CGC’s President / Chief Executive Officer, Mohd Zamree Mohd Ishak.
“As a Development Financial Institution that also provides Shariah Compliant products, our sponsorship is an extension of our contribution to the Islamic finance industry and in support of Malaysia’s leading position in the industry,” Zamree added.
“Indeed, CGC’s financial support is very instrumental for ISRA to kick-start its long awaited project on Islamic economics textbook, which is envisaged to be a comprehensive and main source of reference to the academia, industry practitioners and regulators. We wish to extend our utmost gratitude to the Board and Management of CGC for its support,” said ISRA’s Executive Director, Prof. Dr. Mohamad Akram Laldin.
ISRA was established to promote applied research in the area of Shariah and Islamic finance. ISRA also acts as a repository of knowledge for Shariah views (fatwas) and undertakes studies on contemporary issues in the Islamic financial industry.
About CGC
Credit Guarantee Corporation Malaysia Berhad (CGC) was established on 5 July 1972 and it is 78.65% owned by Bank Negara Malaysia and the remaining 21.35% owned by various commercial banks in Malaysia.
The core business of CGC is to assist SMEs, especially those with inadequate or without collateral and track record, to obtain credit facilities from financial institutions by providing guarantee cover on such facilities. CGC has availed over 442,000 guarantees and financing to SMEs valued over RM61.5 billion since its establishment.
CGC’s support for SMEs is not only confined to the provision of loan guarantees and financing facilities, but also credit information and credit rating services through its subsidiary Credit Bureau Malaysia. Through the Bureau, CGC assist SMEs to build a credit history and track record to enhance their credibility and bankability to secure financing on their own merit and at reasonable cost.
Other funds currently managed by CGC include the Green Technology Financing Scheme (GTFS) and the Bumiputera Entrepreneur Project Fund (TPUB-i) with a total allocation of RM3.5 billion and RM300 million respectively. To date, CGC had managed a total of 45 guarantee schemes including 16 government-backed schemes.
Currently, seventeen (17) Commercial Banks, fifteen (15) Islamic Banks, and seven (7) Development Financial Institutions (DFIs) are participating in CGC’s guarantee schemes in providing financing to customers through a wide network of more than 2,600 branches nationwide to avail financing.
SMEs who are interested to obtain more information may call CGC’s Client Service Centre at 03-7880-0088 or email [email protected] or visit www.cgc.com.my
For Media Enquiries:
Corporate Communications Department,
Credit Guarantee Corporation Malaysia Berhad
Anna Rozana Ramli Khairul Amri Aznan Wan Nur Hidayah Mohammed Akhir
Head, PR & Media Relations Executive, PR & Media Relations Executive, PR & Media Relations
HP: 012-237-1742 HP: 011-123-990-53 HP: 010-464-1753
Email: [email protected] Email: [email protected] Email: [email protected]