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Malaysia's Small and Medium Enterprises Association has urged financing agencies to release regular transparency reports on loan approvals and recipients, arguing that digital systems alone cannot prevent insider abuse and political patronage in MSME funding.
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Prime Minister Anwar Ibrahim has launched a forceful campaign against the use of support letters in government lending, arguing the practice enables cronyism that undermines both public institutions and entrepreneurship across Malaysia.
Prime Minister Anwar Ibrahim has called for an immediate halt to the practice of using political connections and support letters in approving business loans, warning that such cronyism weakens both government agencies and entrepreneurial ventures.