KUALA LUMPUR (Oct 3): The financial sector should be more involved in assisting small and medium enterprises (SMEs), especially in innovation and expansion into the region, according to CIMB Group Bhd CEO, Tengku Datuk Seri Zafrul Aziz Tengku Abdul Aziz.

"Of course the government can play a role, but the financial sector should play a deeper role in assisting them as well," he told reporters on the sidelines of the Khazanah Megatrends Forum today.

He added that the financial sector was not particularly dependent on government incentives, but expressed hopes that Budget 2018, to be announced later this month, would continue to be people- or rakyat-centric.

"Our wish is that it will be centred on the B40 (bottom 40%) and also the M40 (middle 40%)," Zafrul shared.

Incentives and policies surrounding innovation and creativity, especially for the SME sector, should also be one of the focuses of the upcoming budget, he said.

Zafrul added that the group is optimistic that the government would be able to achieve their fiscal deficit target of 3% this year, on the back of strong economic growth numbers.