RHB ISLAMIC AND UPM LAUNCH COLLABORATION THROUGH B40 EMPOWERMENT STRATEGY PROGRAM - BE YOUR OWN BOSS (BEST-BYOB)

UPM Serdang, May 20 - RHB Islamic Bank Berhad has launched the BEST-BYOB entrepreneurship program, a joint initiative with Perbadanan Nasional Berhad (PERNAS) at Universiti Putra Malaysia (UPM).

This program has been offered to the public since its launch in 2022, and now, for the first time, this initiative is being extended to the university level to empower the economic aspects of eligible and interested B40 and Asnaf university students who wish to start a business through a pre-franchise business program. RHB Islamic is allocating up to RM200,000.00 for the BEST-BYOB 2024 program in collaboration with UPM to foster entrepreneurial spirit among the students. 

Through this program, students will be provided with capital injection in the form of grants given by RHB Islamic, along with the necessary knowledge and practical skills required to succeed in pre-franchise ventures. This comprehensive support aims to enhance the long-term capabilities of the students and foster a generation of financially independent young entrepreneurs. 

Dato’ Adissadikin Ali, Managing Director and Chief Executive Officer of RHB Islamic Bank Berhad, said, "RHB Islamic is committed to supporting the agenda of empowering entrepreneurship among students, especially those from the B40 and Asnaf groups. The BEST-BYOB program extended to the university level is a testament to our commitment to helping students transform their lives and living standards as student entrepreneurs," he said during his speech at the Launch Ceremony of the BEST-BYOB Program held at Balai Minda, Sultan Alaeddin Suleiman Shah College, UPM yesterday.

He added, "Through the BEST-BYOB Program, selected student entrepreneurs will receive guidance to run their businesses and will be continuously monitored to ensure success until they graduate."

UPM is the first university to collaborate with RHB Islamic through a program of this kind. It is a commendable initiative that positively impacts the entrepreneurial skills of Asnaf students. Additionally, the role played by the Centre of Management for Waqf, Zakat, and Endowment (WAZAN), UPM, in managing Asnaf students aligns with the university's aspiration to produce well-rounded and competitive students, particularly in the fields of entrepreneurship and business.

Prof. Dr. Arifin Abdu, Deputy Vice-Chancellor of UPM, who was also present at the launch event, said, "UPM is proud to join forces with RHB Islamic and Pernas in this transformative initiative. Equipping our students with practical business skills nurtures their entrepreneurial spirit and paves the way for their future success. This program aligns with UPM's commitment to cultivating well-rounded graduates, making them competent and highly marketable individuals."

"In this endeavor, the Student Affairs Division (BHEP) and the Centre for Entrepreneurship and Graduate Employability (CEM) at UPM can also play a role in overseeing the entrepreneurial activities carried out by students in residential colleges, ensuring that the needs for student entrepreneurial activities are intensified," he added.

In line with Bank Negara Malaysia's (BNM) financial inclusion vision, the BEST-BYOB 2024 program directly supports Strategic Thrust 5 of the Financial Sector Blueprint 2022-2026. It equips B40 and Asnaf students with the skills and resources to thrive in pre-franchise businesses. This program is also an initiative under BNM's iTEKAD, which mobilizes social finance instruments such as zakat, waqf, and sadaqah to assist low-income micro-entrepreneurs. By leveraging RHB Islamic's zakat wakalah initiative in providing financial assistance, BEST-BYOB creates opportunities for underprivileged communities to improve their financial standing.

Date of Input: 23/05/2024 | Updated: 24/05/2024 | nuriqra