Wan Junaidi: Shortened time frame for processing of financing applications to continue | Malay Mail

Wan Junaidi: Shortened time frame for processing of financing applications to continue

Friday, 22 May 2020 06:55 PM MYT

KUALA LUMPUR, May 22 — The move to shorten the time frame for the processing of applications and approval for financing from agencies under the Ministry of Entrepreneur Development and Cooperatives will continue even after the Covid-19 pandemic ends. “This is a new normal, especially in online transaction and there is no need for too many transactions at counter. For example, in the past, business operators need to go to the premises to monitor the operations, but now there are businesses that don’t need them to be around to monitor the situation.

Meanwhile, about 20 per cent of over 850,000 SMEs in the country were found to be affected by Covid-19, of whom 80 per cent were women entrepreneurs who had previously conducted direct purchase transactions.

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