KUALA LUMPUR: CIMB Islamic Bank Bhd together with programme partners Yayasan Waqaf Malaysia (YWM) and Yayasan Belia Malaysia (YBM) will continue the iTEKAD CIMB Islamic Rider Entrepreneur Programme into its second edition.
In a statement, CIMB said the programme supports Bank Negara’s iTEKAD umbrella initiative, which mobilises social finance to support the asnaf and B40 communities achieve financial resilience and generate sustainable income.
The Rider Programme aims to provide participants with job opportunities as food delivery riders with foodpanda Malaysia, supplemented by quality training from Taylor’s Community on entrepreneurship.
YWM’s role in this strategic partnership is as a waqaf fundraiser, whilst YBM is the programme’s overall coordinator mobilising the procurement and distribution of motorcycles to the participants.
CIMB Islamic together with YWM jointly committed a Waqaf contribution of RM300,000 as seed funding for the programme, through the application of the Waqaf Muaqqat (Temporary Waqaf).
CIMB Islamic chief executive officer Ahmad Shahriman Mohd Shariff said: “We continue to see the importance of our Rider Entrepreneur Programme which provides economic assistance to participants from the asnaf and B40 communities, including entrepreneurship skills that will help them improve their livelihoods.”
“This Merdeka month, and in line with CIMB Group
’s new brand proposition, ‘Moving Forward with You’, we are committed to supporting Bank Negara’s iTEKAD initiative together with our esteemed programme partners, bringing greater economic empowerment for all participants and further inculcating the spirit of entrepreneurship in Malaysia.
“This is aligned with Bank Negara’s value-based intermediation, where the intended outcomes of Shariah are delivered through initiatives that generate positive and sustainable impact to the economy and community,” he said.
The first year of the programme kicked off with 40 participants, and with positive response from the communities, the rider programme will be onboarding another 50 participants for the second year.
CIMB Islamic said participants will be required to go through an interview, followed by a four-day bootcamp featuring various aspects of entrepreneurship, including financial management, technical skills, and emotional wellbeing.
Final participants will be assessed in a pitching session where they will present their business ideas to a panel of judges before receiving motorcycle grants and being onboarded as food delivery riders.
Upon successful completion of their one-year work placement with foodpanda Malaysia, the riders will have the option of continuing their employment with foodpanda Malaysia or becoming full-fledged entrepreneurs.