Microenterprise Special Relief Program (MRP 2.0) is the program offering financing to micro-entrepreneurs to enhance the efficiency of the value chain, particularly in the food production sector.
The scope of the financing includes operational costs and purchase or development of fixed assets, including expenses related to compliance with halal certification requirements such as the Malaysian Halal Certification (SPHM), Good Manufacturing Practice (GMP), Hazard Analysis and Critical Control Points (HACCP), and the Malaysian Food Safety and Quality Scheme (MESTI), and business activities that comply with Shariah. In addition, refinancing (overlapping) is also allowed under this program.
Shariah Concept
- Tawarruq
The Shariah concept adopted for this program is Tawarruq. Tawarruq consists of two sale and purchase contracts where the customer purchases the Commodity from the Bank at an increased selling price (Bank Selling Price) on a deferred payment basis and subsequently sells the commodity to the Commodity Supplier in cash at the Bank’s Purchase Price with the objective of obtaining cash. - Wakalah
Under this Facility, the Bank will use a dual-agency mechanism under the Wakalah concept. The Customer appoints the Bank as the customer’s agent to accept the purchase of the commodity from the Bank and subsequently sells the commodity to another Commodity Supplier on behalf of the customer to complete the Tawarruq transaction.
Financing Facilities
Financing Amount
- Minimum: RM1,000
- Maximum: RM100,000
Facility Tenure
- Up to 7 years (84 Months)
Profit Rate
- As low as 4.75% p.a calculated on monthly balance
Financing Margin
- Up to 100% including the cost of takaful contributions, stamp duty and financing instruments (If applicable)
No Collateral required
Eligibility
- Malaysian citizen
- Applicant is between 21 years (at the time of application) and up to 70 years (at the time of financing expiry)
- Self-employed individuals who carry out business activities but are not registered with any business registration entity are eligible to apply for this financing subject to the bank's current conditions.
- Micro entrepreneurs who meet the criteria as stated in the definition of SME, SME Corporation Malaysia.
- The business being conducted is registered under any relevant registration entity in Malaysia including in Sabah and Sarawak.
- The business has been in operation for at least 12 months.
Required documents
- Completed financing facility application form.
- Copies of the applicant’s and co-applicant’s identity cards (for joint applications, if applicable).
- Bank savings account statement or business sales record for the most recent twelve (12) months.
- Copy of business registration or business license for businesses involving fixed premises.
- Any income document received by the bank for the purpose of proving the source of income.
Product Disclosure Sheet (PDS)
Frequently Asked Questions (FAQ)
