KUALA LUMPUR: Bank Muamalat Malaysia Bhd is confident of giving out RM20mil in loans within 12 to 18 months through its Micro Credit Scheme.
Source from (The Star Online): http://biz.thestar.com.my/news/story.asp?file=/2012/10/25/business/12223949&sec=business
Published: October 25, 2012
Its deputy chief executive officer, Musa Abdul Malek, said the scheme
was being specifically targeted at government pensioners, army wives
and Flcra settlers.
“We are confident of achieving our target as
we know our target group. In Malaysia, there are 800,000 government
retirees on pension as well as many army wives,” he told reporters after
launching the finance scheme yesterday.
Musa said the scheme
would offer capital for starting or expanding a business and the funds
would be obtained through the Micro Enterprise Fund set up by Bank Negara.
“Those
keen would be able to apply for loans from a minimum of RM5,000 to
RM50,000 with a repayment period of six months to five years.”
The
loans will be offered at an annual interest rate of 3.60% compared with
the rate of 5.25% for loans previously offered to government staff and
army personnel.
Meanwhile, asked on the takeover of Bank Muamalat by Affin Bank, he said both the parties were still at the discussion stage and the results would be known by year-end. - Bernama
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