Last updated on October 11, 2025
KUALA LUMPUR: Bank Muamalat Malaysia Berhad has entered into a strategic collaboration with TASConnect, a leading digital supply chain finance platform, to transform access to working capital for Malaysia’s small and medium enterprises (SMEs).
The partnership introduces a digital, Shariah-compliant financing solution designed to deliver faster approvals, improved terms, and lower collateral requirements. Through TASConnect’s platform, Bank Muamalat will be able to process applications with greater transparency and efficiency, significantly reducing turnaround time for SME financing.
The initiative is further supported by the Government Guarantee Scheme Madani for SMEs (GGSM), administered by Syarikat Jaminan Pembiayaan Perniagaan Berhad (SJPP). By lowering risk exposure, the guarantee mechanism enables Bank Muamalat to widen its financing reach to a larger spectrum of SMEs.
Driving national SME growth with Islamic finance
Bank Muamalat said the collaboration underscores its commitment to Malaysia’s national agenda of supporting SME development and economic recovery. By marrying digital infrastructure with Shariah-compliant structures, the bank aims to deliver financing solutions that are both inclusive and sustainable.
Datuk Khairul Kamarudin, President and Chief Executive Officer of Bank Muamalat, said:
“At Bank Muamalat, we see SMEs not only as contributors to the economy, but as the real drivers of Malaysia’s digital transformation and future competitiveness. Access to working capital is often the bridge between surviving and scaling, and this collaboration with TASConnect provides SMEs with that bridge, delivered in a faster, simpler and Shariah-compliant way.”
A timely boost under GGSM3
Tse Ning Chan, Country Executive & Regional Head of Sales, TASConnect Malaysia, added:
“The introduction of GGSM3 is a timely boost for SMEs seeking reliable financing in today’s challenging business climate. Our collaboration with Bank Muamalat will help SMEs strengthen their cash flow and seize new opportunities, while the SJPP guarantee reduces risks for financiers.”
Nationwide access, immediate effect
A Memorandum of Understanding (MoU) was signed to formalize the partnership. Effective immediately, eligible SMEs nationwide can apply for financing via TASConnect’s platform, ensuring access regardless of geographical location.
By integrating fintech innovation with Islamic finance, Bank Muamalat and TASConnect are positioning themselves at the intersection of digitalisation, financial inclusion, and economic resilience, a space that continues to attract strong policy and investor attention.
