By Geraldine Tan
Credit Guarantee Corp Malaysia Bhd (CGC) launched the Special Assistance Scheme (SAS-i), a scheme that aims to financially assist its existing customers whose businesses are affected by natural disasters.
Keeping in mind the devastating effects that natural disasters such as floods, tsunami and earthquakes can have on business operations, the SAS-i financing facility allows customers to purchase assets for commercial use, to replace or repair damaged facilities due to a natural disaster, and for cash flow management to allow customers to operate their business as usual soon after recovering from the natural disaster.
The scheme’s financing facility will be made available to existing customers who are in areas that have been defined as a disaster area by the National Security Council, Prime Minister’s Department or deemed as a disaster area by CGC.
The SAS-i is based on the concept of commodity murabaha, as well as being Syariah-compliant. It provides financing ranging from RM20,000 to RM200,000 with a financing tenure of up to five years. The rate charged under the SAS-i is 5.80% per annum.
More information on the scheme can be found on their website at www.cgc.com.my.
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