PENANG, MALAYSIA March 4, 2026 – The Ministry of Entrepreneur and Cooperative Development (KUSKOP) through its agency TEKUN Nasional continues to empower micro-entrepreneurs in Penang with the Skim Biaya Ramadan Perniagaan Rakyat (BARAKAT), a special financing initiative designed to help small traders capitalise on business opportunities during the Ramadan month and festive season.
Minister of KUSKOP, Steven Sim Chee Keong, recently visited Uptown Bandar Perda to personally meet BARAKAT recipients and inspect the progress of their businesses on the ground.
As of today (4 March 2026), the scheme has recorded strong uptake in Penang with 357 applications received from local traders. Nearly RM2.5 million has been approved so far, reflecting high demand among bazaar operators and small businesses.
During the visit, the minister handed over symbolic cheques to three selected recipients. Among them was Mohd Rahim Ibrahim, who has been running a jeans clothing business for 11 years. He received RM30,000 to strengthen his stock ahead of the festive rush.
Another recipient, Mohamad Afif bin Mohamad Salim, who has operated a clothing business for six years, was also awarded RM30,000 to boost his inventory in anticipation of increased demand throughout Ramadan.
The third recipient, Moktar bin Daud, who has managed an eyewear business for 20 years, received an identical RM30,000 to expand his stock and meet customer needs leading into Syawal.
Steven Sim assured that KUSKOP and TEKUN Nasional will continue to streamline processes and minimise bureaucracy so that funds can be disbursed quickly, allowing traders to fully seize the golden opportunities during Ramadan and Syawal.
Under Skim BARAKAT, eligible applicants can obtain financing of up to RM30,000 at a profit rate of 3% per annum with a repayment period of up to 12 months. No savings deposit is required, although PERKESO contribution is mandatory.
Applications remain open until 15 March 2026. The scheme is available to Bumiputera and Malaysian citizens aged between 8 and 65 years old. Existing TEKUN entrepreneurs may also apply, subject to a maximum total financing limit of RM100,000.
The implementation of Skim BARAKAT underscores the government’s ongoing commitment to strengthening micro-entrepreneurs, enabling them to generate sustainable income and maximise business potential throughout the holy month and festive period.
KUSKOP and TEKUN Nasional will remain dedicated to providing both financing and entrepreneurial development support to micro-businesses across the country.
“Hebatkan Perniagaan Malaysia.”
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