December 4, 2019

Standard Chartered Malaysia and MaGIC Team Up to Maximise Impact of Malaysia’s Agents of Change


04 December 2019, Kuala Lumpur, Malaysia - Standard Chartered Bank Malaysia Berhad (SCB) and Malaysian Global Innovation & Creative Center (MaGIC) earlier today, signed a Memorandum of Understanding (MoU) in their bid to enhance the capacities of local social entrepreneurs through SEtia during the SME Conference, held at the Grand Hyatt Hotel, Kuala Lumpur.

Social Entrepreneurs - Transformation, Innovation & Acceleration (SEtia), is a capacity-building initiative with a customised syllabus designed to strengthen the development of social entrepreneurs through business coaching and mentoring support on business modelling, financial management, innovative marketing strategies, government policies and more. 

YB Datuk Seri Mohd Redzuan Yusof, Minister of Entrepreneur Development, Malaysia who was the keynote speaker at the SME Conference 2019 witnessed the signing of the MOU. The MOU was signed by Abrar A. Anwar the Managing Director and Chief Executive Officer of Standard Chartered Bank Malaysia and Dzuleira Abu Bakar, Chief Executive Officer of MaGIC. Also witnessing the MOU signing is YBhg. Datuk Wan Suraya Wan Mohd Radzi, Secretary-General of the Ministry of Entrepreneur Development (MED).  The SME Conference was organized by British-Malaysia Chamber of Commerce (BMCC) and Standard Chartered.

YB Datuk Seri Mohd Redzuan Yusof stated that: “Social enterprises are one of the strongest ways to address our nation’s socio-economic disparities and contribute to the United Nations Sustainable Development Goals (SDGs). We, the government recognise their importance; which is why for 2020, a heavy emphasis will be placed on them. The government will be of assistance to them to help create positive social impact for the nation and this is being made visible this year especially through the launch of The Social Enterprise Accreditation 

Guidelines, the social enterprise application guide for approval under subsection 44 (11c) income tax act 1967 released by the Ministry of Finance and the allocation of RM 10 million to aid in the development of social enterprises announced in Malaysia’s Budget 2020. I am particularly happy to see that corporations such as Standard Chartered Bank Malaysia also doing their part through Corporate Entrepreneurship Responsibility (CER) efforts.”

SEtia will provide 25 selected social enterprises with the opportunity to meet with successful and seasoned entrepreneurs who will share fresh perspectives, advice and tips during the rigorous 5-week training aside from entrepreneurship development modules, exposure to creative and innovative business strategies to maximise social impact and profit, active discussions and immersive visits to existing social enterprises. 


Quote by Standard Chartered

MaGIC is excited to be in partnership with Standard Chartered Bank Malaysia and would like to thank them for their commitment in providing our social entrepreneurs with a platform to refine their impact solutions through SEtia. This programme will embed 25 selected social enterprises with an impact-driven mindset fueled by creativity and innovation to catapult the growth of their businesses for a larger social impact on all strata of society. This will also help ensure inclusive economic growth for Malaysia while creating a positive dent within the nation’s social entrepreneurship sphere, said Dzuleira Abu Bakar, Chief Executive Officer of MaGIC.


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ABOUT MALAYSIAN GLOBAL INNOVATION & CREATIVITY CENTRE (MaGIC)

MaGIC enables and supports the sustainable growth of entrepreneurship in Malaysia. Our goal is to drive sustainable entrepreneurship ecosystem development through innovation and creativity by creating value and new economic drive for Malaysia. We help entrepreneurs at every stage of their journey by collaborating with other government agencies, industries and stakeholders. To build our nation’s innovation and creativity skills as well as grow talent, we offer dynamic programmes and capacity-building initiatives. MaGIC also positions Malaysia as a gateway into ASEAN for entrepreneurs to expand their business and reach. Social entrepreneurship is a key focus for us too as we aim to drive the movement forward through community engagement, capability development and social impact measurement initiatives.


MaGIC is an agency under the Ministry of Entrepreneur Development (MED) with a mandate that realises the aspirations of the National Entrepreneurship Policy 2030 (Dasar Keusahawanan Nasional 2030) and contributes to the evolution of Malaysia into an entrepreneurial nation.


For more information on MaGIC, please visit mymagic.my/en/ 


Standard Chartered Malaysia

Standard Chartered Bank, a member of the Standard Chartered Group was established in Malaysia in 1875. As Malaysia’s first bank, Standard Chartered leads the way through product innovation, consistent and strong growth performance and sustainability initiatives. The Bank provides a comprehensive range of financial solutions to corporates, institutions and individuals through its network of branches across Malaysia. The Bank has an Islamic banking subsidiary, Standard Chartered Saadiq; a global shared services centre, Standard Chartered Global Business Services; a sales arm, Price Solutions and an offshore facility in Labuan.


Standard Chartered employs over 7,000 employees in all its Malaysian operations.


Standard Chartered

We are a leading international banking group, with a presence in 60 of the world’s most dynamic markets, and serving clients in a further 85. Our purpose is to drive commerce and prosperity through our unique diversity, and our heritage and values are expressed in our brand promise, Here for good.

Standard Chartered PLC is listed on the London and Hong Kong Stock Exchanges as well as the Bombay and National Stock Exchanges in India.


For more stories and expert opinions please visit Insights at sc.com. Follow Standard Chartered on Twitter, LinkedIn and Facebook. 



For further enquiries, please contact

Hazel Hassan, hazel.hassan@mymagic.my (+6019 217 8191)

Reshmi Haran, reshmi@mymagic.my (+6011 3693 2973)