IN THE wake of the RM2.67 billion Halal Fund Pledge by five major banks at the World Halal Business Conference Circuit 2023 (WHBC) in London, Halal Development Corp Bhd (HDC) has announced a transformative partnership with SOLV Malaysia, seeking to revolutionise the halal economy by simplifying small and medium enterprises’ (SMEs) access to funds through the Halal Integrated Platform (HIP).
SOLV Malaysia, incubated by SC Ventures, stands as a pivotal player in addressing SME needs, specifically in e-commerce and financial solutions.
“At HDC, we recognise the pivotal role that micro, small and medium enterprise (MSMEs) play in the development of the halal economy. We are looking for a practical way in providing ease of access to the financing facilities provided by financial institutions,” said HDC CEO Hairol Ariffein.
The cornerstone of this collaboration is a business-to-business (B2B) supply chain financing programme designed to accelerate the growth of SMEs.
By combining HDC’s expertise in the halal sector with SOLV’s innovative digital platform, the partnership seeks to accelerate the growth of SMEs in Malaysia by providing ease of access to the RM2.67 billion funding facility provided by the banks.
“SOLV’s mission is aligned with the vision of empowering businesses through technology and innovation. This collaboration is a testament to our commitment to revolutionise the SME landscape, providing them with the tools they need to succeed in today’s dynamic market,” said SOLV Malaysia CEO Wendy Ang.
One of the key objectives of this collaboration is digital advancement in pre-qualifying SMEs for optimal pairing with suitable financial institutions and alternative lenders.
This innovative partnership not only streamlines the financing process but also focuses on cultivating credit-worthy behaviour, empowering SMEs to construct resilient credit profiles. Through a digital approach, the collaboration enhances the overall customer jour- ney, facilitating quicker and more efficient financing for SMEs based on their merit, thereby promoting financial independence and long-term sustainability.
HDC and SOLV are working closely to harness the full potential of this collaboration, aiming to empower Malaysian SMEs, drive growth and foster a resilient and thriving SME ecosystem.
The partnership holds the promise of not only transforming the financial landscape but also paving the way for valuable collaborations in the realm of financial technology, said HDC.
Source: https://themalaysianreserve.com/2023/12/20/hdc-partners-solv-for-rm2-7b-halal-economy-boost/