Datuk Amihamzah Ahma, the Chairman of Operations in the Southern Sarawak region for Amanah Ikhtiar Malaysia (AIM), a microfinance institution (MFI) in Malaysia, has announced that AIM plans to disburse MYR 491 million (USD 164 million) in loans under the Tenth Malaysia Plan, a blueprint for the allocation of the national government budget for 2011 to 2015. The government-backed funding, which is specifically targeting poor people living in rural areas, is slated to increase the client base of AIM in the Southern Sarawak region from 12,974 to 15,900 by the end of 2015.
Avid MicroCapital readers may recall that in 2010 AIM claimed the world’s highest repayment rate at 99.2 percent. Mr Ahma asserts that AIM’s Sarawak division “enjoys a loan repayment rate of 99.8 percent” while reaching “the hardcore poor and low-income households, including those in the interiors.” According to the Microfinance Information Exchange (MIX), the US-based nonprofit data provider, AIM reported total assets of USD 269 million, a gross loan portfolio of USD 185 million, 206,379 borrowers, 4.93 percent return on assets (ROA) and 29.2 percent return on equity (ROE) as of 2009.
By Hajar Elaalej, Research Associate
About Amanah Ikhtiar Malaysia (AIM): Amanah Ikhtiar Malaysia (AIM) is a private trust that was established in 1987. AIM operates as a microfinance institution (MFI) that provides capital financing, savings and healthcare financing assistance. According to the Microfinance Information Exchange (MIX), the US-based nonprofit data provider, AIM reported total assets of USD 269 million, a gross loan portfolio of USD 185 million, 206,379 borrowers, 4.93 percent return on assets (ROA) and 29.2 return on equity (ROE) as of 2009.
Source and Additional Resources:
Bernama.com, June 4, 2011, “AIM Sarawak to disburse RM491 million to rural poor under 10 MP”, http://www.bernama.com/bernama/v5/newsindex.php?id=591530
MicroCapital Brief, July 23, 2010, “Malaysian Microfinance Institution (MFI), Amanah Ikhtiar Malaysia (AIM), Claims “World’s Highest” Microcredit Repayment Rate of 99.2 Percent”, https://www.microcapital.org/microcapital-brief-malaysian-microfinance-institution-mfi-amanah-ikhtiar-malaysia-aim-claims-worlds-highest-microcredit-repayment-rate-of-99-2-percent/
MicroCapital Universe Profile: Amanah Ikhtiar Malaysia (AIM), https://www.microcapital.org/microfinanceuniverse/tikiindex.php?page=Amanah+Ikhtiar+Malaysia+%28AIM%29
Browse the MicroCapital Universe and add your entry to the wiki at: https://www.microcapital.org/microfinanceuniverse/
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