What is Trade[&Give]?
Trade[&Give] is a micro-financing and micro-enabling programme via Amanah Ikhtiar Malaysia (AIM), which aims to create and provide a fund for wealth creation to enhance the lives of under-served, deserving entrepreneurs. Trade[&Give] is an initiative to create economic opportunities for all levels of society. It sits at the intersection of Maybank and the society’s needs; Maybank – to increase penetration and reach new markets, and staying relevant in the eyes of society/community. Society – local communities with the need for financial services and knowledge, expertise and technology.
Why create Trade[&Give]?
To make a difference by striving together for something greater than ourselves, and to help enrich the lives of the communities that we work and live in. We want to move under-served entrepreneurs along the value chain as we believe that for business to prosper, the communities that it serves must also prosper. Corporations are pursuing more sustainable ways to engage with the community, and Trade[&Give] introduces the concept of shared value and will, we hope, continue to inspire a more inclusive capital market.
Where does funding for Trade[&Give] come from?
Maybank IB will automatically channel a portion of all eligible clients’ gross brokerage fee towards Trade[&Give], with NO additional investment from the client (new and/or existing). Clients will not only enjoy the benefits of successful trading with us but will also be enriching the lives of the community through deserving entrepreneurs.
How will the Trade[&Give] fund be used?
Maybank IB, partnering with AIM, will manage community financing and repayment. A set of criteria determined by Maybank IB will identify deserving entrepreneurs.
What is Maybank IB’s additional commitment towards Trade[&Give]?
An internal engine to effectively run Trade[&Give] is being set up. An enablement toolkit will ensure the entrepreneurs have access to the latest knowledge and technology.
Bursa Marketplace has created a hub for Trade[&Give] enabling entrepreneurs to showcase and market their business. Similarly, our Maybank Kim Eng corporate website is another source for all information on the programme.
Maybank IB is also providing mentors, from its pool of internal talent, to assist and guide the entrepreneurs with other aspects of their businesses, i.e. marketing, financial literacy, harnessing technology, and so on.
How many entrepreneurs will benefit from the Trade[&Give] fund?
There is no pre-determined number of recipients. To-date we have already identified 150 entrepreneurs.
How long will this programme go on for?
Maybank IB is in this for the long-run. We are still in the beginning stages of this programme, and as the initiative goes on, we will learn and fine-tune it even more.
What is the repayment period for these entrepreneurs?
Repayment period very much depends on each individual entrepreneur. It can range between 6 months to two years. This will be handled by AIM.
Will the repaid funds be put back into the pool for future entrepreneurs?
Yes, it will.
What is the criteria for the selection of the entrepreneurs?
Our initial shortlisting was based on four factors – income (Malaysian B40), age (between 25-45), geography, and entrepreneurship life stage (level 5 which is full launch and growth). After the initial selection, we then looked into other factors such as type of business, scalability, prospects and of course their values that mirror Maybank's.
Where do AIM and Bursa come in?
Trade[&Give] is a collaborative programme for greater social impact. To achieve this, we need to team up with those who share our goals. The collaboration includes Maybank IB and the Maybank Group, AIM and Bursa Malaysia. AIM provides support in terms of community financing and with the enablement toolkit, which will ensure the entrepreneurs are abreast with the latest knowledge and technology available to them. We hope to include other partners in the near future, who will also collaborate with us to provide other levels of financial literacy and e-commerce. Bursa Malaysia has created and will maintain a vibrant hub for Trade[&Give], which will allow these entrepreneurs access to new markets and opportunities. As a counterpart to this effort, Maybank IB will also maintain Trade[&Give] pages, which hosts all pertinent information on the program, on Maybank Kim Eng’s corporate website.