KUALA LUMPUR, 13 October 2011 – Standard Chartered Bank Malaysia has further strengthened its solutions for small and medium enterprise (SME) customers in Malaysia with the launch of SME Business Debit Card. The enhanced SME Banking customer offering aims to seamlessly meet the evolving financial needs of fast growing SMEs and power their aspiration for growth in Malaysia and international markets.
Through the launch of the SME Business Debit Card, the Bank aims to issue a total of 12,500 cards by 2012 to deepen penetration rate and increase debit card spend in Malaysia.
Vishal Shah, General Manager of SME Banking, Standard Chartered Bank Malaysia said, “Building the SME business is a strategic priority for Standard Chartered Bank across our markets including Malaysia. As the sector continues to grow, SMEs require sophisticated range of solutions to meet their changing needs. The SME Business Debit Card is a value added solution that we are extending to our customers and further strengthening our value proposition.”
The SME Business Debit Card is an innovative and first-of-its-kind cash managementtool that provides increased convenience for SME customers in Malaysia. The new offering complements the industry and the Bank’s existing suite of best-in-class, differentiated and holistic solutions to better serve the SMEs. “While it allows greater convenience to our customers, the SME Business Debit Card also marks our commitment in supporting SMEs.
Capitalising on the growth opportunity within the SME sector, the new offering provides the Bank with a unique advantage that contributes to our ambition to lead the way in the SME industry by focusing on our customers evolving needs, and further add to our overall customer growth in Malaysia,” Vishal added.
Apart from introducing an innovative way for cardholders to enjoy fast and convenient access to cash, the SME Business Debit Card also features the ability to preset transactional limits for individual cardholders. This feature provides SMEs with better cash flow management and increased financial control. It is certainly a more secured option that helps mitigate risk associated with carrying large sums of money for company expenses.
Cardholders are entitled to the MasterCard World Privileges programme, which extends special benefits and discounts from merchant partners locally and around the world. These benefits vary from professional services to hotels and resorts, office essentials and more. It also offers global access to cash at over 1 million ATMs, and pays for goods at over 30 million POS establishments worldwide via MasterCard network including online purchases.
The SME Business Debit Card is available to all SME customers with current accounts with the Bank. Each account is entitled to apply up to 10 SME Business Debit cards. Effective from now until 31 December 2011, cardholders are entitled to RM50 worth of shopping vouchers with first RM500 spent within the first 45 days of card issuance.
Standard Chartered in Malaysia
Standard Chartered Bank Malaysia Berhad, a member of the Standard Chartered Group was established in Malaysia in 1875 and locally incorporated on 1 July 1994. As Malaysia’s first bank, Standard Chartered leads the way through product innovation, consistent and strong growth performance and sustainability initiatives. It provides a comprehensive range of financial products and services including retail and wholesale banking for individuals, small and medium-sized enterprises, corporate and institutions through its network of more than 30 branches across Malaysia.
In 2001, Standard Chartered established a global shared service centre named Scope International in Kuala Lumpur, Malaysia to provide software development, banking operations and IT support services to the Bank in up to 70 countries – the first international bank to do so in Malaysia. It now houses the biggest software development company in the country, International Software Centre Malaysia (ISCM). Standard Chartered’s two other global shared service centres are in Chennai, India and Tianjin, China.
Another wholly-owned subsidiary of the Group, Price Solutions Sdn. Bhd is also located in Malaysia. The company promotes and markets Standard Chartered’s financial products in Malaysia through a network of direct sales agents.
Standard Chartered Saadiq Berhad, its Islamic Banking subsidiary was established in November 2008. It offers a comprehensive range of Shariah-compliant products and services to individuals and corporates through its first Saadiq financial centre (branch) located in Taman Tun Dr Ismail, Kuala Lumpur.
Standard Chartered employs more than 5,000 employees in all its Malaysian operations.
Standard Chartered – leading the way in Asia, Africa and the Middle East
Standard Chartered PLC, listed on both London and Hong Kong stock exchanges, ranks among the top 25 companies in the FTSE-100 by market capitalisation. The London headquartered Group has operated for over 150 years in some of the world’s most dynamic markets, leading the way in Asia, Africa and the Middle East. Its income and profits have more than doubled over the last five years primarily as a result of organic growth and supplemented by acquisitions.
Standard Chartered aspires to be the best international bank for its customers across its markets. The Bank derives more than 90 per cent of its operating income and profits from Asia, Africa and the Middle East, generated from its Wholesale and Consumer Banking businesses. The Group has around 1,750 branches and outlets located in over 70 countries.
The extraordinary growth of its markets and businesses creates exciting and challenging international career opportunities. Leading by example to be the right partner for its stakeholders, the Group is committed to building a sustainable business over the long term and is trusted worldwide for upholding high standards of corporate governance, social responsibility, environmental protection and employee diversity. It employs 75,000 people, nearly half of who are women. The Group’s employees are of 115 nationalities, of which 60 are represented among senior management.
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