Business

Published: Tuesday November 17, 2009 MYT 3:00:00 PM

Amanah Ikhtiar aims to disburse RM1bil in loans next year


KUALA LUMPUR: Amanah Ikhtiar Malaysia (AIM) aims to disburse loans worth RM1 billion next year, said its managing director Hajah Zabidah Ismail.

She said AIM also expects to disburse RM800 million in loans by the year end.

In order to achieve the 2010 target, Hajah Zabidah said AIM will increase its branches from the current 86 throughout Malaysia.

"We plan to open four branches each in Sarawak and Johor by the fourth quarter of next year," she told reporters after the MS ISO 9001:2000 certification ceremony, here on tuesday.

After two decades of operation, AIM has successfully provided loan facilities amounting to RM3.5 billion to over 230,000 small entreprenuers.

"We manage to get funding from the government and hope to receive an extra allocation under the 10th Malaysia Plan," she added.

Meanwhile, the Minister in the Prime Minister's Department, Tan Sri Nor Mohamed Yakcop said the government remained committed to further developing small entrepreneurs.

This, he added, is to not only provide them with opportunities to improve their income but also contribute to expanding the country's economic activities.

He stated that the government was aware that a large number of entrepreneurs undertaking their own business on a small scale faced problems, especially from the aspect of capital, guidance and skills.

"To ensure that they have access to business financing, the government has allocated AIM funds to be channeled to the poor and those in the lower income group in the rural areas and towns," said Nor Mohamed.

He said that the success of the AIM Rural Micro Financing Programme had encouraged the government to expand it to towns, especially to reduce the rate of poverty and enhance the quality of life of those in the lower income group there.

According to Nor Mohamed, since being launched at the end of last year,the programme had provided financing of RM60 million to benefit 20,000 borrowers. - Bernama


Latest business news from AP-Wire

  • E-mail this story
  • Print this story