Article: MMJ 65%:35%
MMJ 20220523
UTAMA | Manusia | Komunikasi | Ilmu | Cabaran | Keluar || HOME | People | Communication | Knowledge | Challenges | Exit
Question in Alumni group re MMJ 65%:35% real: personal Proposal
MC75:
Does this 35:65 include micro financing like undertaken by "amanah ikhtiar?"
& It seemed that micro financing the interest is very high - 12pc, for "high risk" reason? - a hearsay!!!
Albeit oppressive rates takers are like beggars, cannot be choosy! Sadly so-called baitulmal is far away for Umar Abd Aziz (rmth)'s policy & practice!
Data showed otherwise, their collection rates are high, default and NPL are low?
Answer:
The unspoken word is if this reform is done it will be a total reform including the way money is extended so there will not be necessity to charge poor people 12% as now. The 12% today comes from the diseased thinking that micro finance is risky and therefore deserves 12%.
The way MMJ money reform is executed it's no longer minimum bank staff plus debt financing; it will be maximum bank staff plus equity financing. Perhaps 100 investment officers per branch instead of the current 2 or 3 credit officers. How to fund staff costs? It's minimal if they address their minds to it but the current debt banking has been so lucrative they never really bothered about it.
The first thing the govt needs to do is issue the 65%:35% directive. It needs a bought govt to do it not current lost govts and opposition. And before you associate SME with microfinancing I post below the definition of SME which includes companies with turnover of RM50 million.
UTAMA | Manusia | Komunikasi | Ilmu | Cabaran | Keluar || HOME | People | Communication | Knowledge | Challenges | Exit
Dikemaskini [Updated]: Sam Ahmad 20230627