Appoint mentors for loans fast, BSN urged

  • Nation
  • Monday, 07 Jul 2003

KUALA TERENGGANU: The Terengganu Chinese Chamber of Commerce and Industry wants Bank Simpanan Nasional to speed up appointing mentors for the disbursement of loans to petty traders under the RM300mil micro-credit scheme. 

Chamber president Low Kian Chuan said any delay would derail the government's intentions of helping traders who were facing financial difficulties. 

“The delay in appointing mentors will certainly affect the speedy disbursement of funds to petty traders including those facing problems with loan sharks,” he said after chairing a meeting on the scheme.  

The scheme was announced by Prime Minister Datuk Seri Dr Mahathir Mohamad on May 21 as part of the economic stimulus package whereby a person can apply for up to RM20,000 loan from BSN for non-agriculture business. 

Low said the chamber was only informed during a briefing at the bank's headquarters in Kuala Lumpur last week that associations picked as mentors should sign a memorandum of understanding with the bank. 

He said the chamber had signed the MoU and would have it stamped before sending it by express mail to the bank.  

Low said the chamber had received overwhelming queries from the public following announcement that chambers of commerce could act as mentors under the scheme. 

“Many have approached us for help but we are not in a position to do anything as we have not been appointed as mentors yet,” he said.  

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