This year, Amanah Ikhtiar Malaysia (AIM), which is well-known for its unwavering support of female entrepreneurs, is expected to provide RM270 million in loans, reinforced by an extra RM10 million. Deputy Minister of Cooperative Development and Entrepreneurship Datuk Ramanan Ramakrishnan declared that in the current fiscal year, AIM, which has proudly operated for 37 years with membership exclusively for women, has already granted loans to almost 340,000 businesswomen.
According to Datuk Ramanan Ramakrishnan, AIM distributed RM260 million last year to about 320,000 women entrepreneurs, with 6,404 of the grantees being from the Indian community. Remarkably, beneficiaries of AIM report average monthly incomes of RM250,000, demonstrating the program’s effectiveness in supporting members’ sustainable business growth. Furthermore, as per Datuk Ramanan, the remarkable 99.9% repayment rate of AIM highlights the financial self-control and prosperity of female traders.
Datuk Ramanan stressed the organization’s dedication to offering comprehensive support beyond money, including essential consulting services targeted to each member’s needs, during a recent visit to the AIM headquarters in Damansara, Selangor. He praised AIM’s 99.91% collection record as evidence of the program’s success in encouraging female businesses.
AIM’s inclusive loan eligibility policy was emphasized by Chief Process Officer Shamir Aziz, who emphasized that the company does not take into account things like C-CRIS or CTOS blacklisting. Only necessary information and supporting materials must be provided by applicants, streamlining the loan application procedure and increasing access to financial resources.
The credit facility, which is available to those in the B40 category who make less than RM5,880 a month, is a testament to AIM’s commitment to promoting economic inclusion and advancing neglected populations. Notably, AIM demonstrated its dedication to fostering an entrepreneurial spirit and promoting economic empowerment by hosting a Madani gathering yesterday that drew over 1,000 guests from the Indian business sector.
As demonstrated by its strong loan disbursement processes and extensive support services, AIM’s steadfast dedication to assisting women entrepreneurs continues to propel socioeconomic advancement, representing a critical turning point in Malaysia’s path towards equitable economic growth.