Kuala Lumpur, 13 October 2014 - Maybank Investment Bank (Maybank IB) today launched its Trade [&Give] initiative on Bursa Malaysia’s Bursa Marketplace –an initiative which aims to create and provide a fund for wealth creation to enhance the lives of under-served, deserving entrepreneurs.
The launch, held at Bursa Malaysia, was officiated by Datuk Abdul Farid Alias, Group President and CEO of Maybank, Datuk Tajuddin Atan, CEO of Bursa Malaysia and John Chong, CEO of Maybank Investment Bank.
Trade [&Give] provides funding as well as mentorship on different aspects of running a business, such as marketing, financial planning and harnessing technology, to budding entrepreneurs to help them take their businesses to the next level. The micro-financing fund set up for this purpose is contributed from a percentage of brokerage fees that Maybank IB receives, generated from trades by clients.
Trade [&Give] is built upon the premise that for businesses to prosper, the communities that it serves must also prosper. Incorporating the idea of inclusive development, Trade [&Give] was created to bring businesses and communities back together. The initiative aims to unveil economic opportunities for all levels of society and provide them with access not only to funds but also knowledge, ideas, technology and new markets.
“At Maybank, we truly believe in humanising financial services, and we are committed to help those who have great ideas and the drive to succeed but just need a little assistance in taking their endeavours further,” said Datuk Abdul Farid Alias. “We are also proud of the fact that we have made our clients a part of this journey. To-date we have close to 9000 clients who have contributed to this micro-financing and micro-enabling fund simply by trading with us,” Datuk Farid added.
“Entrepreneurship is a driver of economic growth. Many of the companies listed on Bursa were once start-ups; but given the right support and assistance, they have managed to grow their businesses and got them listed. Bursa Malaysia is happy to support this initiative and share these inspiring stories on Bursa Marketplace to encourage conversations and interest in entrepreneurship,” said Datuk Tajuddin Atan.
The first batch of recipients was selected with Amanah Ikhtiar Malaysia’s (AIM), help from their pool of members, also known as Sahabat AIM. They were all meticulously screened based on a set criteria; type of business, scalability, prospects, drive and also values, which mirror Maybank’s. AIM is Maybank IB’s micro-financing partner in this initiative.
“We want to help create new markets, improve profitability and see the recipients of our funds grow by leaps and bounds, and in turn, create opportunities for others. It is all about creating value – that’s what we’re bringing to the table,” said John Chong.