GHL TEAMS UP WITH TAKAFUL IKHLAS AND INSURTECH SENANG TO AID SMES AND MICRO-ENTREPRENEURS.

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8 Apr 2020

Key Highlights:
• GHL Systems Berhad partners with Takaful IKHLAS and Senang Insurance to offer micro financial services to Small Medium Enterprises (SMEs) and microentrepreneurs.
• Services offered aims to ease the burden faced by SMEs and micro-entrepreneurs during the COVID-19 outbreak and the movement restrictions.

KUALA LUMPUR, Malaysia – GHL Systems Berhad (GHL Group) partners with financial protections service provider, Takaful Ikhlas General Berhad (Takaful IKHLAS) and Insurtech player, Senangnvs Sdn Bhd (Senang), to line up micro financial products and services. In response to the on-going COVID-19 pandemic dampening the country’s economy and impacting severely the livelihood of many local SME and micro-entrepreneurs, GHL and partners embarks to assist this group by formulating SME-centric financial services.

These value added services will cover an extensive range of financial products; from micro-insurance, micro-lending to micro-wealth management. The aim is to help SMEs and micro-entrepreneurs sustain though this challenging period, by bridging the financial and credit gap faced by many of them.

The SME segment is a significant growth engine for Malaysia, contributing 38.3% of the country’s GDP in 2019. In the current situation, most SMEs and microentrepreneurs are looking at a bleak future given the uncertainty of when the pandemic will pass. As a significant contributor and employer to the nation’s economy, GHL group is doing its part to help the SMEs and micro-entrepreneurs segment by making available these services digitally.

Mr Danny Leong - Group CEO of GHL said, “Leveraging on the provision of financial protection by Takaful IKHLAS, paired with digital automation by Senang, together, we are poise to play our part in helping the SMEs and micro-entrepreneurs ride through the financial storm. As a leading payments solutions provider, we hope to make available these additional services to our existing SME merchant base.”

“This three-way partnership is indeed more important now than ever. As we battle through the COVID-19 pandemic, the digital platform plays a crucial role in ensuring that business transactions are able to be done seamlessly. Hence, this partnership with GHL and Senang is timely and we look forward to provide our innovative and comprehensive takaful solutions to the SMEs through this partnership, especially during this challenging time,” said Eddy Azly Abidin, President & Chief Executive Officer Takaful Ikhlas General Berhad.

Takaful IKHLAS, a wholly owned subsidiary of MNRB Holdings Berhad, provides financial protection to more than 2 million policyholders nationwide, which comprises of both individuals and corporations.

On the other hand, Senang - one of the three winners of the Financial Innovation Lab - B40 Challenge co-organized by United Nations Capital Development Fund (UNCDF), Malaysia Digital Economy Corporation (MDEC), and Bank Negara Malaysia (BNM) last year is working closely with Takaful IKHLAS to provide digital solutions to improve the financial health of low to moderate income Malaysians. UNCDF facilitates Senang’s effort to bring their solutions to market.

Mr.Sharian Raj, Co-Founder of Senang mentioned “This partnership with GHL is an ethos of our double bottom-line impact model of making it commercial viable for corporates while increasing the financial health of SME’s and micro entrepreneurs in Malaysia.

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