700,000 low-income households now in middle-income group with Amanah Ikhtiar Malaysia’s help

Since its establishment in September 1987, microfinance institution Amanah Ikhtiar Malaysia (AIM) has helped 700,000 low-income households (B40) across the country transform themselves into middle-income households (M40).— Reuters pic
Since its establishment in September 1987, microfinance institution Amanah Ikhtiar Malaysia (AIM) has helped 700,000 low-income households (B40) across the country transform themselves into middle-income households (M40).— Reuters pic

KANGAR, Sept 8 — Since its establishment in September 1987, microfinance institution Amanah Ikhtiar Malaysia (AIM) has helped 700,000 low-income households (B40) across the country transform themselves into middle-income households (M40).

Another accomplishment of AIM has been its ability to retain a 98 per cent repayment rate during its 32-year existence, a feat which had not been matched by similar bodies, announced Deputy Finance Minister Datuk Amiruddin Hamzah today.

The institution was continuing to increase its number of clients in line with the government’s exhortation to microfinance institutions to encourage entrepreneurship among low-income Malaysians, he said during a press conference at the Fiesta Sahabat AIM 2019 held at the Industrial Training Institute (ILP) here.

There are currently 342,202 borrowers throughout the country who are registered with AIM, out of a target of 400,000, said AIM chairman Datuk Junaidah Kiting, adding that its new plans included free beauty, health, massage, spa and post-natal care courses which would be offered towards the end of the year.

AIM has 4,650 clients in Perlis who have been supported with a total of RM24,253,800 in financing, with the institution targeting to increase its clientele in the state to 6,805 supported with funding of RM38,253,800. — Bernama

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