Mara affords more incentives for businesses hit by Covid-19, CMCO

By Olivia Miwil - May 30, 2020 @ 11:28am

KOTA KINABALU: Majlis Amanah Rakyat (Mara) has introduced two additional incentives to assist Bumiputera entrepreneurs affected by the Covid-19 pandemic and Conditional Movement Control Order (CMCO).

Its chairman, Datuk Azizah Mohd Dun, said Mara is offering business empowerment financing schemes and two-month exemptions on rentals for business premises.

"Based on a survey on the impact of the Movement Control Order on entrepreneurs, which involved 2,436 respondents, it was revealed that there is a need to add new incentives for their business sustainability.

"For this, Mara has allocated RM6 million for schemes that can benefit more than 600 of our entrepreneurs," she said in a statement.

The scheme is based on the concept of Qardhul Hasan and applicants need to have a guarantor.

Applications can be made online via www.mara.gov.my/Myusahawan and it will take a maximum of 14 days to process.

"Mara will always assist entrepreneurs to continue to be competitive in line with current economic growth.

"We are also hoping they will not give up amidst the current challenges that have hit the country and affected our economy," she added.

Previously, Mara announced a six-month moratorium on business financing and 30 per cent off for premises rentals for more than 5,000 entrepreneurs.