KUALA LUMPUR: Credit Guarantee Corp Malaysia Bhd (CGC) has received two sustainable development awards from the Association of Development Financing Institution in Asia and the Pacific (ADFIAP).

       In a statement, CGC said the merit awards received were for its BizMikro-i scheme under the “MSME Development category” and its Robotic Process Automation (RPA) under the “Technology Development category” from the ADFIAP on Oct 27.

       CGC president and chief executive officer Datuk Mohd Zamree Mohd said BizMikro-i scheme has remained relevant during the challenging period as it assists micro, small and medium enterprises (MSMEs) during the Covid-19 pandemic, enabling them to bounce back stronger.

       The BizMikro-i scheme is a term financing facility for working capital, based on the syariah concept or commodity murabahah.Mohd Zamree said that the scheme enabled the inclusion of the unserved and underserved MSMEs into the formal financial ecosystem.

       The scheme uses a unique credit risk assessment tool to process the financing application of MSMEs to measure the risk profile of the applicants.

       The company had integrated various systems which had improved data accuracy within a shorter turnaround time, resulting in an enhanced customer experience for the MSMEs.

       “Our digital journey through the RPA is anchored towards improving our back-office processes for an overall improvement in customer experience,” he said.