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CSR Malaysia

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Jul 25th
Home arrow News arrow Malaysia arrow Bank targets 160 panel cooperatives next year
Bank targets 160 panel cooperatives next year Print E-mail
Tuesday, 06 November 2007
Bank Kerjasama Rakyat Malaysia Bhd aims to increase the number of cooperatives on its panel to 160 next year from 40 now, says managing director Datuk Kamaruzaman Che Mat. He said the aim was to help it achieve its target of channelling out RM36mil in micro-credit financing to entreprenuers next year.
"Since the scheme was launched six months ago, the bank has given out loans worth RM1.6mil to 163 entreprenuers via the co-ops.

"The bank offers up to RM50,000 in loans with a repayment period of up to three years at 11.25% interest.

"We hope to use the co-ops as a channel to help get more borrowers and we expect about 45,000 co-op members to benefit from this facility," he told reporters after signing a memorandum of understanding (MOU) with Cooperative College of Malaysia here yesterday.

Kamaruzaman said under the MOU, the college would organise workshops on micro-financing for co-op members who used the bank's micro-credit scheme.

"The workshops will cover leadership, discipline, motivation, basic accounting and application of coop values and principles," he said. - Bernama

Souce from Starbiz
 

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