Singapore, Kuala Lumpur – The Singapore Malay Chamber of Commerce and Industry (SMCCI) and Maybank Singapore Limited (Maybank) have signed a Memorandum of Understanding (MoU) to advance Halal-focused initiatives and support the growth of SMEs (Small and Medium Enterprises) and Malay/Muslim-owned enterprises in Singapore and Malaysia. This partnership will focus particularly on the Johor-Singapore Special Economic Zone (JS-SEZ), and extend across the wider ASEAN region.
Sazzali Sabandi (second from left), Head of Islamic Banking at Maybank in Singapore exchanging documents with Dr Abdul Malik Hassan (third from left), President of Singapore Malay Chamber of Commerce and Industry (SMCCI) during the signing ceremony.
Under this strategic partnership, SMCCI and Maybank will jointly organise events, conferences and trade visits to facilitate market access, knowledge-sharing, and Halal capability development. Leveraging its regional insights and community ties in Johor, SMCCI will provide guidance to its members on business setup, market entry, workspace solutions, policy updates and market intelligence. Through this partnership, around 300 SMCCI members stand to benefit from enhanced support and expanded regional opportunities.
Maybank will complement SMCCI's efforts with its full suite of banking solutions, while continuing its successful collaboration through the Bank’s myimpact Microbusiness Programme, which empowers underserved entrepreneurs through business training, mentorship, and seed funding.
“We see rising demand from our members to explore opportunities in the JS-SEZ and the region especially in the Halal sector,” said Dr Abdul Malik Hassan, President of SMCCI. “By partnering with Maybank, we are strengthening the support ecosystem for entrepreneurs that are ready to take that step. Together, we aim to make cross-border growth more accessible, and assist Malay/Muslim-owned enterprises in Singapore navigate the regional landscape.”
Sazzali Sabandi, Head of Islamic Banking at Maybank in Singapore said, “The Halal economy is a fast-growing sector with enormous potential across ASEAN. Beyond Malaysia and Indonesia, we are seeing emerging interests from Thailand, Vietnam and Cambodia in gaining a slice of the global Halal market that is estimated to reach USD5 trillion by 2030. With Maybank’s presence in all 10 ASEAN countries, we are able to support SMEs with the right tools and financial solutions to seize cross-border opportunities. We are proud of this collaboration with SMCCI as it is centred on Maybank’s purpose of humanising financial services, supported by our values-driven platform.”