Kuala Terengganu, Malaysia – Bank Simpanan Nasional (BSN) has initiated the Micro MADANI Carnival at Pasar Payang, aiming to empower micro-entrepreneurs and bolster local economies through inclusive financial growth. The event, part of a nationwide effort to foster microeconomic development, was unveiled by BSN's chief executive, Jay Khairil, who emphasized the bank's commitment to supporting grassroots business initiatives.
"Our disbursement of over RM5 billion in micro-financing to nearly 170,000 entrepreneurs nationwide underscores our dedication to business growth and community resilience," Khairil stated during the launch. The carnival, officiated by Kuala Terengganu's Mayor Datuk Jusman Ibrahim, reflects the collaboration with local authorities to enhance community-based entrepreneurship.
Serving as a hub for micro-entrepreneurs, the event enabled interactions with government agencies, financial institutions, and industry partners, fostering knowledge exchange and networking opportunities. Among the financial services introduced were financial counseling, financing restructuring, and the BSN Micro MADANI Scheme.
Highlighting the success of their programs, Khairil noted that more than 4,000 micro-entrepreneurs have advanced to SME status, over 14,800 jobs have been created, and more than 13,000 businesses have experienced sales growth. Additionally, 1,400 business assets have been acquired or improved.
The carnival also featured business matching initiatives, including the Modern Trade Ready Programme with AEON Malaysia and digital opportunities through TikTok Shop. A memorandum of understanding was formalized between BSN and strategic partners such as the Terengganu Islamic Religious and Malay Customs Council, TikTok Shop Malaysia, SME Bank, and the Credit Counselling and Management Agency (AKPK), with backing from the Malaysian Prison Department.
"This collaboration aims to fortify the micro-entrepreneurship ecosystem, broaden outreach to vulnerable groups, and support Islamic social finance agendas like the iTEKAD Programme," Khairil explained. Furthermore, BSN announced its role in the Tenunan Songket Community Centre initiative at the Terengganu State Prison in partnership with AKPK, designed to equip rehabilitation participants with songket weaving skills. This 18-month program supports 20 individuals with essential resources, entrepreneurship training, and financial literacy, including a RM10,000 grant per person.
Khairil concluded, "BSN is proud to be part of initiatives that provide opportunities for individuals in rehabilitation, ensuring no Malaysian is left behind."
