by HARIZAH KAMEL / pic by TMR FILE

DEVELOPMENT Financial Institutions (DFI) are urged to give their full support to the country in this recovery period for the well-being of the rakyat.

Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz (picture) said in formulating Malaysia’s economic recovery strategy, the Finance Ministry (MOF) sees DFIs as having a strategic and important role in the country’s effort to restore and retain the capacity of businesses to provide various employment opportunities and support Malaysians’ livelihoods. 

“To that end and in line with the spirit of #KeluargaMalaysia, I urge DFIs to provide their full support to the country during this recovery period, particularly as the objective of DFIs is to help develop the rakyat’s socio-economic well-being,” he said in a statement today. 

Tengku Zafrul said urgent support – for example in terms of financing – is required to prevent long-term economic scarring, particularly for micro, small and medium enterprises in strategic sectors including tourism, retail, agriculture, infrastructure, maritime, export as well as hi technology and capital intensive industries. 

“DFIs are, therefore, requested to formulate practical solutions such as more accommodative financing criteria to enable businesses to get back on their feet and restart operations as soon as possible. This proposal will also be further examined in preparation for Budget 2022,” he added.