PATTANI (Thailand), July 7 (Bernama) -- The Malaysian Islamic Economic
Development Foundation (YaPEIM) expects to be able to franchise its
Ar-Rahnu Islamic pawnshop micro-credit financing scheme to Pattani,
Thailand in two to three years.
Source from (Bernama): http://www.bernama.com/bernama/v6/newsbusiness.php?id=678840
Published: July 07, 2012
YaPEIM Director-General Datuk Dr Abd Malek Awang Kechil said YAPEIM's
well-established Ar-Rahnu business in Malaysia, with full government
support, has prompted it to expand overseas.
"We will express our wish to venture abroad to the governments of
Thailand and the region at the two-day Regional Ar-Rahnu Secretariat
Conference 2012 which began here Saturday.
"Thailand lacks the funds to develop its Ar-Rahnu business, and we see
an opportunity to expand here, besides helping Thailand to develop its
Ar-Rahnu business," he told reporters after the conference opening here.
"However, we will need to get permission from the Thailand government and discuss with countries in the region first.
"If we are allowed to expand to Thailand, it could become a means to
help Islamic cooperatives here as they would not need to look for
additional funds," he said.
He said YaPEIM is in the process of identifying potential partners here
and in several other places, and is also looking at opportunities in
several Asean countries, the Middle East, Central Asia the Indian
subcontinent.
"YaPEIM's main objective is to help regional neighbours develop their
Ar-rahnu business, and Cambodia and Timor Leste have shown an interest,"
he said, adding more studies should be done on the people's acceptance
of the Ar-Rahnu financing scheme.
Abd Malek said YaPEIM has had talks with the Islamic Development Bank
and is consulting legal experts on its plan to venture overseas.
"We have identified strategic locations for our franchise programme, and the feasibility studies have begun," he added.
-- BERNAMA
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