AIM-ing to improve living standards and livelihoods

KOTA BARU: Generally, borrowers or ‘Sahabat’ (friend) from Amanah Ikhtiar Malaysia (AIM) say they have successfully improved their living standards and managed to boost their income through the financial support provided by the national micro-credit organisation.

Motorcycle workshop owner Othman Yusof, 55, from Kampung Padang Raja, Melor, started his business about 20 years ago with RM3,000 in financing from AIM.

“After obtaining AIM financing, I used it to buy essential items and motorcycle replacement parts.

“I ensured consistent weekly payments from my earnings and eventually increased my daily income to RM300,” he told Bernama yesterday.

In Budget 2024, Prime Minister Datuk Seri Anwar Ibrahim announced an allocation of RM100mil to support AIM’s poverty eradication efforts due to its outstanding performance, with a remarkable non-performing loan (NPL) rate of 0.26% in 2022.

Othman said on a weekly basis, he was required to make payments of RM45, which included the mandatory savings necessary for AIM financing.

“In my two decades as a ‘Sahabat’ of AIM, I once secured a RM19,000 loan to expand my motorcycle business, and the effort paid off since the services offered had high demand.

“AIM has significantly improved our family’s quality of life, allowing us to renovate our home, buy a car, and support my wife Rosmika Abdullah’s ‘nasi berlauk’ business,” he added.

Meanwhile, Tuan Juwariah Tuan Ismail, 51, from Kampung Mahligai in Bachok, said she got RM5,000 in AIM financing four years ago.

The kuih seller added that the loan allowed her to expand her business, resulting in a consistent daily increase in orders.

“I prepare seven varieties of kuih daily and send to coffee shops. AIM financing has been a tremendous help.

“After the Budget 2024 announcement, I plan to get an additional loan to improve my business,” she said.