My actual question to The Star:
1) How much the loan approval rates for Amanah Ikhtiar and the main criteria for approval a loan, as much of the lower income group peoples do not have a good documentation to prove of income? And how much the Non-Performing Loan (NPL) rates?
Posted out at Bizweek The Star, Saturday June 23, 2012
5. How does AIM solve the problem of those in the lower income brackets who do not have documentation for their income? TL Ong, Segamat
To determine income level, AIM conducts a survey. We interview potential customers in the identified locality. Confirmation on such information is obtained through word of mouth from friends, relatives and the local community.
On joining AIM, and after obtaining the first loan, AIM monitors the status of project and income generated on a scheduled basis. A full report is then tabled by the group chief and the centre chief during the weekly meeting, which is attended by our field staff.
Our criteria for approval includes credit discipline and an undertaking by borrowers to pay the loan amount in full. Considerations are given when they run into problems.
I THINK THE STAR NOT GET WHAT I WANT TO ASK, AND IS NOT FAIR FOR ME TO MODIFY THE QUESTION.
I INTEND TO PROMOTE THIS AIM TO GENERAL PUBLIC BUT NOW I
