Last updated on October 11, 2025
KUALA LUMPUR, 10 October 2025 — CIMB Group CEO Novan Amirudin has lauded Budget 2026, describing it as both inclusive and people-focused, charting a course for national rejuvenation and revival in support of the Madani Economy and the broader policy roadmaps announced today.
“Budget 2026, the first under the 13th Malaysia Plan, reflects the Government’s continued commitment to fiscal discipline, with a target of reducing the fiscal deficit to 3.5% in 2026, a key step towards long-term economic resilience,” said Novan.
He noted that the budget demonstrates a strong focus on strengthening the economy, raising living standards, and enhancing Malaysia’s attractiveness as a destination for investment and business.
“Recognising the pivotal role of micro, small and medium enterprises (MSMEs) in driving economic growth, we welcome the Government’s efforts to empower smaller businesses through expanded financing access via Skim Jaminan Pembiayaan Perniagaan Berhad and Bank Negara Malaysia facilities,” he said.
According to Novan, these measures will help accelerate automation and digitalisation, areas where CIMB continues to take the lead through its CIMB OCTO Biz and SMEBizReady propositions, initiatives designed to help businesses scale sustainably.
As one of the region’s leading Islamic finance players, CIMB also supports the Government’s emphasis on strengthening the Islamic finance ecosystem.
“This aligns with our commitment to advancing equitable risk and profit sharing,” Novan said, adding that initiatives such as iTEKAD exemplify CIMB’s shared aspiration to foster social impact and financial inclusion for all Malaysians.
On the regional front, Novan praised the Government’s bold move to champion a high-value economy through the introduction of the ASEAN Business Entity (ABE) framework, which supports Malaysian companies expanding across the region.
“We also welcome the continued focus on the Johor–Singapore Special Economic Zone (JS-SEZ), a strategic gateway that enhances Malaysia’s regional connectivity and competitiveness,” he said.
He highlighted that the initiative, supported by the Iskandar Malaysia Facilitation Centre, Johor Super Lane, and Single-Family Office Incentive Scheme, will help attract high-quality investments and top-tier talent.
“CIMB remains fully committed to supporting the development of this economic zone, including through our RM10 billion financing commitment to drive shared prosperity and strengthen investor confidence in Malaysia,” Novan added.
Novan also commended the Government’s commitment to sustainability and climate transition, noting that the introduction of a carbon tax aligned with the National Carbon Market Policy and National Climate Change Bill marks a critical milestone.
“With our aspiration to be an ASEAN sustainability leader, CIMB is dedicated to facilitating sustainable finance and capital flows that promote a just and inclusive transition to a net-zero economy,” he said.
He added that through CIMB’s comprehensive suite of sustainable finance products and services, the bank will continue to support corporates, SMEs, and consumers in adopting responsible practices that enhance long-term resilience.
In closing, Novan said that Budget 2026 strikes a careful balance between addressing immediate economic challenges and laying the groundwork for sustainable, inclusive growth.
“CIMB will continue to collaborate with stakeholders across sectors and society to advance the ambitions set out in this budget. Together, we are confident that we can build an inclusive, resilient, and sustainable economy that empowers all Malaysians to thrive in a dynamic and evolving environment,” he said.
