AEON Bank (M) Berhad (“AEON Bank”), Malaysia’s first Islamic digital bank embarked on a strategic collaboration with MADCash Sdn. Bhd. to empower 100 female entrepreneurs from B40 communities to kickstart their businesses and grow their entrepreneurial skills.
The program is anchored on Bank Negara Malaysia’s iTEKAD, a social finance initiative that
aims to uplift local microentrepreneurs from communities in need across the country.
‘GrowthStart’ is developed together by AEON Bank and MADCash, a local fintech enabler focusing on female empowerment.
As a microentrepreneurial kickstarter programme, it aims to coach and nurture the business growth of 100 female entrepreneurs, while helping them to optimise on digital tools and financial technology. The programme is set to run from February 2025 until August 2026 and will be rolled out in three batches with participants from Selangor, Kedah, Negeri Sembilan and Johor.
For the first batch, 50 female microentrepreneurs from various sectors such as F&B, education, health and beauty, agriculture and social enterprises will be selected, and the activities will be rolled out starting February 2025 until August 2025. Throughout these six months, they will be engaged in practical workshops conducted in both physical settings and via online learning, alongside coaching and mentorship.
The second and third batches will engage 25 female microentrepreneurs each in a
six-month interval. Every participant will be eligible for a RM2000 Qard financing, aligned with AEON Bank’s Shariah finance principles.
“AEON Bank’s ‘GrowthStart’ programme demonstrates our dedication to financial inclusion by supporting female microentrepreneurs with untapped potential,” said YM Raja Datin Paduka Teh Maimunah Raja Abdul Aziz, CEO of AEON Bank (M) Berhad. “Many of these women struggle to secure business funding and they need the right coaching, especially online entrepreneurial know- how to help them grow their business. Our strategic collaboration with MADCash will address these challenges head-on. By providing seed capital, hands-on business mentorship, targeted skills training, we are fostering self-sufficiency and empowering them to achieve their entrepreneurial dreams.
Ultimately, ‘GrowthStart’ is more than individual success stories; it is also about uplifting the larger communities and driving lasting social change.”
Nuraizah Shamsul Baharin, CEO of MADCash said, “MADCash aims to empower these groups of women by helping them to develop business skills and knowledge to improve their livelihoods. With a stronger economic foundation, they can overcome various challenges and enhance their bankability. This approach effectively promotes financial inclusion in our society. We are grateful to have partnered with AEON Bank in this journey.”
AEON Bank is committed to providing accessible financial solutions to all Malaysians, as well as empowering the community to achieve their financial aspirations and economic independence. It will continue to foster a more inclusive financial future for all, while contributing to the growth of Islamic banking in the region and Malaysia’s thriving fintech digital economy.