Kuala Lumpur, 16 April 2026 – CIMB Bank Berhad has entered into a strategic collaboration with Dewan Bandaraya Kuala Lumpur, committing RM5 million over three years to accelerate inclusive economic growth and strengthen Kuala Lumpur’s position as a regional hub.
The initiative, branded “Moving KL Forward – Kita Bagi Jadi bersama DBKL x CIMB”, signals a coordinated push between the public and private sectors to uplift local businesses, empower creative industries, and enhance the city’s economic resilience.
Driving Digital Adoption and MSME Growth
At the core of the collaboration is a targeted effort to support micro, small, and medium enterprises (MSMEs), which form the backbone of Malaysia’s economy.
Through platforms such as CIMB OCTO and OCTOBiz, the bank will roll out cashback and rebate incentives to encourage digital adoption helping businesses improve operational efficiency and competitiveness in an increasingly digital marketplace.
This aligns with a broader national agenda to accelerate digitalisation among SMEs, ensuring they remain competitive amid evolving consumer behaviours and regional competition.
Boosting the Creative Economy and Cultural Identity
Beyond commerce, the collaboration places strong emphasis on nurturing Kuala Lumpur’s creative economy.
A series of cultural events, festivals, and public art initiatives will be rolled out to create income opportunities for local talents while reinforcing the city’s identity as a vibrant cultural destination.
Flagship programmes are expected to include major events such as the Festival Orkestra Kuala Lumpur, Ambang Merdeka Concert, and KUL Design Festival collectively engaging over 100,000 attendees annually and stimulating economic activity across tourism and hospitality sectors.
Public-Private Synergy Under Ekonomi MADANI
The collaboration reflects Malaysia’s broader Ekonomi MADANI framework, which emphasises inclusive, sustainable, and people-centric growth.
Hannah Yeoh, Minister in the Prime Minister’s Department (Federal Territories), highlighted that such partnerships demonstrate how government and private sector players can jointly deliver meaningful economic outcomes, ensuring that development benefits communities at all levels.
Meanwhile, Kuala Lumpur Mayor Fadlun Mak Ujud emphasised that the collaboration will create new opportunities for entrepreneurs and local talents while enhancing the city’s vibrancy and inclusivity.
Expanding Economic Participation Across Communities
The initiative extends beyond headline programmes, embedding itself across Kuala Lumpur’s urban landscape through public art installations, murals, and digital assets integrating creativity into everyday city life.
CIMB Group CEO Novan Amirudin noted that the collaboration reflects the bank’s role in enabling economic participation, from supporting business growth to fostering ecosystem development.
Previous initiatives such as CIMB OCTO Fest have already demonstrated tangible impact, supporting hundreds of vendors and generating significant sales, offering a blueprint for scaling similar programmes under this partnership.
The Ledger Asia Insights
This collaboration represents more than a local initiative, it is a case study in how urban economies across ASEAN are evolving.
For investors and policymakers, three key themes stand out:
- Digitalisation as a growth lever: MSME adoption of fintech solutions is becoming central to productivity gains
- Creative economy monetisation: Cities are increasingly leveraging culture and events as economic drivers
- Public-private partnerships (PPP): Strategic collaborations are emerging as a scalable model for inclusive urban development
Kuala Lumpur’s approach could serve as a blueprint for other ASEAN cities aiming to balance economic growth with social inclusivity particularly as competition for investment, talent, and tourism intensifies across the region.
