Alliance Islamic Bank has signed a three-year MoU with YaPEIM to help SMEs and B40 communities. 

Alliance Islamic Bank Berhad and Yayasan Pembangunan Ekonomi Islam Malaysia (YaPEIM) have signed a three-year Memorandum of Understanding (MoU) to enlist small-and-medium enterprises (SMEs) who are Alliance Islamic Bank’s customers as suppliers under YaPEIM’s Food Bank programme.

This mutually-beneficial ecosystem offers YaPEIM an additional supplier resource to procure food and essential products at competitive rates to provide to marginalised communities. For the SMEs, the arrangement offers a new market opportunity to sell their products while helping communities-in-need.

“The ongoing COVID-19 crisis has severely impacted not only SMEs, but also individuals and families in the B40 category. This collaboration with YaPEIM allows us to create a positive impact on more lives as it benefits all stakeholders involved, namely, the disadvantaged communities and SMEs, especially during this challenging period,” said Alliance Islamic Bank Chief Executive Officer Rizal IL-Ehzan bin Fadil Azim.

He added: “YaPEIM is able to expand their Food Bank vendor list and ensure sufficient supply to cater to their programme needs, while SMEs have new avenues and marketing opportunities.”

YaPEIM Acting Director General Parihah Hasan added, “We at YaPEIM believe the partnership spearheaded with Alliance Islamic Bank will open up more collaboration opportunities that are strategic, with a focus on supporting the development and growth of entrepreneurs to be competitive, sustainable in the current economic situation.”

YaPEIM has also handed over donations to 500 recipients in the form of basic essentials to reduce their burden during the conditional movement control order and in the month of Ramadan.

They are Polis Bantuan Hospital Kuala Lumpur, Projek Perumahan Rakyat (PPR) Desa Rejang, PPR Sri Kota, PPR Hiliran Ampang, Sekolah Agama Rakyat Kafa Integrasi Solahiyyah Damai, Sukarelawan Al Rahmah Kuala Langat, Surau Al Ikhwan Sungai Buluh, Pangsapuri Taman Industri Lembah Jaya Ampang, Sukarelawan Hospital Sungai Buluh, and Persatuan Jaringan Islam Global Masa Depan.

Under the MoU, both parties will collaborate on additional initiatives such as e-bazaar Ramadan and CMASA.my, YaPEIM’s online commerce platform where SMEs introduced by AIS will be listed as sellers or suppliers. This collaboration is a strategic extension of Alliance Islamic Bank’s Halal in One programme which helps SMEs succeed in Halal markets. It is also aligned with the banking group’s efforts to help businesses impacted by COVID-19 through its recently launched #SupportLokal campaign.

Also in the pipeline is the expansion of the collaboration in other platforms such as Alliance Islamic Bank SocioBiz, a social crowdfunding platform that helps disadvantaged individuals improve their quality of life by being financially independent through businesses. To help social enterprises, the general public can donate at www.alliancebank.com.my/sociobiz.

YaPEIM’s Food Bank programme aims to reach out to 250,000 beneficiaries. To date, YaPEIM has spent approximately RM1,748,076.85 for 76,976 recipients in the form of cash, dry food or ready-to-eat throughout Malaysia, including Sabah and Sarawak.

For more information about this collaboration, please visit www.alliancebank.com.my or www.yapeim.my.