MALAYSIA’S central bank will stop accepting new applications under its RM2 billion assistance guarantee scheme for small and medium-sized companies from today after helping more than 9,000 companies, Bank Negara said in a statement today.
The scheme was established in February to ensure smaller companies affected by the country’s economic slowdown would continue to have access to adequate financing, the central bank said, adding that its guarantees would no longer be necessary.
“As the domestic economic conditions show further improvement and with available ample liquidity, latest indicators have shown an upward trend of business loan applications and approvals in the banking system,” it said
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