An investigation into SMEs' perceptions of credit guarantee corporation (CGC) Malaysia berhad: A case study of Islamic guarantee scheme in Malays

TL;DRAbstract

Small and Medium Sized Enterprises (SMEs) are considered as backbone of the national economies, whether developing, or developed nations, due to their contribution to economic growth and capital accumulation. In Malaysia, therefore, the government has formulated various strategies to encourage development of the SMEs with the objectives of economic growth, capital accumulation and creating employment opportunities. One of such strategies resulted in the formation of Credit Guarantee Corporation, as a guarantor for the SMEs. The booming phenomenon of Islamic finance especially in Malaysia has influenced the CGC to come up with Islamic guarantee scheme, parallel with the demand of Islamic financing products in the country. However, since the scheme was introduced by the Corporation, in general, the performance of the Islamic guarantee scheme has not performed as expected and has not been as competitive as the conventional guarantee scheme, even though the scheme has recorded positive gro

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