Bank Rakyat Allocates an Additional RM50 Million for BRIEF-i Financing Program, Bringing Total Fund to RM100 Million

In response to the strong demand for the Bank Rakyat Indian Entrepreneur Financing-i (BRIEF-i) program, Bank Rakyat has announced an additional RM50 million in funding. This increase brings the total allocation for the program to RM100 million, further supporting Indian entrepreneurs in expanding and strengthening their businesses. The move reflects Bank Rakyat’s commitment to empowering the Indian business community by providing greater access to financial resources and growth opportunities.

The Deputy Minister of Entrepreneur Development and Cooperatives, YB Dato’ Sri Ramanan Ramakrishnan, speaking at the BRIEF-i Financing Program Cheque Handover Ceremony at Menara Kembar Bank Rakyat today, stated, “This initiative demonstrates Bank Rakyat’s commitment, under the Ministry of Entrepreneur Development and Cooperatives (KUSKOP), to continuously support and empower local entrepreneurs. In particular, it aims to provide the Indian business community with greater opportunities and improved access to the necessary financing to expand and advance their businesses.”

“This additional funding is expected to further expand the scope of assistance to more entrepreneurs, enabling them to improve business infrastructure, enhance technology, and introduce innovation in their operations. With a larger fund allocation, more entrepreneurs can benefit from this financing facility to achieve their business goals and remain competitive in their respective industries,” said YB Dato’ Sri Ramanan.

“This additional funding is expected to broaden the scope of support for more entrepreneurs, allowing them to enhance their business infrastructure, adopt advanced technology, and introduce innovative solutions in their operations. With increased financial resources, more entrepreneurs will be able to leverage this funding to achieve their business objectives and maintain a competitive edge in their respective industries,” said YB Dato’ Sri Ramanan.

Meanwhile, Bank Rakyat Chairman, Datuk Mohd Irwan Mohd Mubarak, stated, “The strong response to this program is a testament to the effectiveness of BRIEF-i in supporting micro, small, and medium enterprises (MSMEs) across the country. With this additional funding, Bank Rakyat aims to further contribute to the national economy while enhancing the livelihoods of local entrepreneurs. Moreover, this initiative is expected to generate more job opportunities and bring broader benefits to society as a whole.”

“As an agency under KUSKOP, Bank Rakyat is committed to playing a vital role in strengthening the local business ecosystem and empowering entrepreneurs to succeed in an increasingly competitive market,” added Datuk Mohd Irwan.

As of February 21, 2025, BRIEF-i has approved RM49 million in financing for 512 MSME entrepreneurs across the country since its launch in June 2024. Initially, Bank Rakyat allocated RM50 million for the BRIEF-i program, benefiting Indian entrepreneurs from diverse sectors, including transportation, services, retail, food and beverage, and more.

During the ceremony, Bank Rakyat presented grant cheques to Indian community entrepreneurs who received financing under the BRIEF-i program. This initiative not only demonstrates Bank Rakyat’s commitment to empowering Indian entrepreneurs but also seeks to inspire and motivate more entrepreneurs to realize their potential and succeed in their respective industries with the financial support and resources available.

For more information about the BRIEF-i financing program, the public can visit Bank Rakyat’s official website and QR2E (Quick Response to Entrepreneurs) , or visit any Bank Rakyat Business Banking Centre.