KUALA LUMPUR, Malaysia, April 8, 2020 /PRNewswire/ -- Taylor's Education Group and CIMB Islamic Bank Berhad ("CIMB Islamic" or "the Bank") have unveiled a joint effort to take their yearly entrepreneurial programme, "Program Keusahawanan Taylor's-CIMB Islamic" ("the Programme"), into the digital sphere. This is to ensure that the initiative, aimed at developing entrepreneurs from the B40 (Below 40% income level) group, can still be accessed online and continued during the challenging times of COVID-19. Since the inception of this programme in 2017, participants have been attending face-to-face classes at Taylor's University Lakeside Campus on selected weekends.
The Taylor's-CIMB Islamic entrepreneurial programme aims to empower families in the B40 group to uplift their earnings through up-skilling and entrepreneurship. Participants are required to complete five online modules; (1) Objectives of Business; (2) Challenges and Risk Management; (3) Target Market and Marketing; (4) Financial Record and Management, and (5) Emotional Wellbeing. Meanwhile, the children and women programme focuses on awareness of COVID-19, emotional well-being, family and civic activities. Grocery and stationery support are also provided to encourage participation and as motivation for the community to continue to gain knowledge.
Digital applications for the Programme will be open in April 2020. Now in its fourth year, the Programme has assisted over five hundred micro business owners to grow their business through upskilling and disbursements of grants.
May Wong, Taylor's Group Communications and Corporate Social Responsibility Manager said, "We decided to move the programme online due to responses we received from a survey we conducted earlier. A total of 49% of respondents said that they were not able to run their businesses since the MCO was enforced and about 54% of the respondents had experienced a drop in business, with 38% having completely no revenue."
"The good news is that 84% of the respondents said that they were receptive toward undertaking their programmes online," she added.
In view of this, the organising committee decided that it was time to take the programme online so that micro business owners and their families can continue to receive support.
May Wong added that although timelines are steep as the programme commences in April, the team is confident of making it a success by leveraging on Taylor's existing e-learning platform and experience in delivering online education.
Ahmad Shahriman Mohd Shariff, CEO of CIMB Islamic said, "Given the situation, CIMB Islamic believes in proactive actions such as making the programme available online in order to minimise disruption to the participants. It is important for the programme to continue as it is aimed at the B40 group which is most vulnerable during this period and falls under one of our Sustainable Development Goals (SDGs) that we champion. We are pleased to continue supporting the programme with Taylor's Education Group. It is very much consistent with CIMB Group's commitment of advancing customers and society as well Bank Negara Malaysia's (BNM) Value Based Intermediation (VBI) framework."
"This joint programme further complements other initiatives we are carrying out to assist our customers during this challenging period. This includes an automatic 6-month moratorium on financing products starting 1 April 2020. As a responsible corporate citizen we wish to ensure that no members of society are left behind," Shahriman added.
Participants, comprising of children, women and micro entrepreneurs, have already started completing their assignments through modules provided in PDF form, supported by audio, video and video conferences, delivered through the e-learning sites.
In addition to assignments and workshops, the entrepreneurship programme's annual sales bazaar and graduation ceremony will also be conducted online.
"Given the situation, we have also added a digital marketing module, to equip participants with the skills to take their business online, which includes tutorials on how to set up online stores and using social media to promote products"
"The survey also found that 83% of respondents were ready to give back to the community, despite their own struggles. We are therefore introducing five additional classes on social entrepreneurship, focusing on mentorship and guidance, that will empower graduates of the programme to help others while ensuring sustainability of their businesses," May added.
"Many businesses are struggling to operate due to the MCO and small businesses are especially susceptible," said Taylor's Education Group CEO Dato' Loy Teik Ngan. "Thus, we hope that our initiative of taking this programme online will benefit these entrepreneurs and equip them with the skills and knowledge to weather the storm and grow."
To-date, "Program Keusahawanan Taylor's-CIMB Islamic" has disbursed grants totaling RM700,000.
About Taylor's Education Group
Taylor's Education Group (TEG) is a pioneer in private education in Malaysia. It is one the largest and most successful private education groups in Malaysia with over 22,000 students across university, college and schools. With an unsurpassed track record built up over the last six decades, Taylor's has earned the reputation as the leading private educational provider in Malaysia offering a pipeline of education excellence from pre-school to postgraduate.
About CIMB Islamic Bank
CIMB Islamic Bank, licensed under the Malaysia's Islamic Financial Services Act 2013, is the main operating entity of the CIMB Group's global Islamic banking and finance franchise. It operates in parallel with the Group's universal banking platform and offers Shariah-compliant products and services to the Group's consumer banking, investment banking, asset management and investment businesses.
CIMB Islamic Bank's services, products and operations comply strictly with global Shariah principles and standards under the guidance of the CIMB Islamic Board Shariah Committee which comprises of world renowned Shariah experts and scholars. CIMB Islamic provides comprehensive and innovative Shariah-compliant financial products and services to meet the needs of individuals, small and medium scale enterprises as well as large institutional customers.
CIMB Group's Islamic banking and finance business is supported by the Group's network of around 35,000 employees in 15 countries comprising an experienced senior management team and a global team of Islamic banking and financial services professionals in all core components of the Islamic banking and financial services market. CIMB Group also has the most extensive retail branch network in ASEAN, with 702 branches as at 31 December 2019.
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