RM682.36 MLN ALLOCATED TO EASE BURDEN OF SAHABAT AIM

KUALA LUMPUR, March 25 -- Amanah Ikhtiar Malaysia (AIM) and Koperasi Sahabat Amanah Ikhtiar Malaysia Bhd (Koop Sahabat) have allocated RM682.36 million under a dedicated Economic Stimulus Package for Sahabat AIM to tide over COVID-19.

In a statement today, AIM said it was deeply concerned about the negative effects of COVID-19 on the economic activities of Sahabat AIM.

AIM managing director Shamir Aziz said the Movement Control Order (MCO) since March 18 had affected Sahabat AIM's livelihood and ability to repay their loans.

He said AIM had previously announced a loan repayment deferment for up to two weeks, but in view of the current development, it has decided to extend the moratorium until May 30, 2020 and provide more assistance to them.

Under the dedicated Economic Stimulus Package, Sahabat AIM are allowed to make a one-off withdrawal of RM300 from their Compulsory Savings which involves an allocation of RM112.5 million, he said in a statement.

It also offers a three-month deferment of the I-Lestari and I-Usahawan Koop Sahabat financing repayment with no additional charge for 400 borrowers involving a sum of RM300,000 and a deferment of the Sahabat Ar-Rahnu Auction involving 1,500 borrowers/ pawnbrookers totaling RM120,000 until the end of the MCO.

AIM also announced the distribution of the Koop Sahabat’s business zakat (tithe) distribution amounting to RM621,104, AIM Welfare Aid Fund of RM2.6 million and AIM Corporate Benefit Fund of RM1.14 million to 17,444 Sahabat Asnaf (deserving recipients) who will get RM250 each.

The dedicated Economic Stimulus Package also provides Group Fund financing for 10,000 Sahabat AIM at a maximum limit of RM1,000 per loan involving a sum of RM10 million.

Meanwhile, rallying to the government’s call to support the fight against COVID-19, AIM is offering the use of 80 rooms at the Carlton Hotel Koop Sahabat for eight days to Ministry of Health (MOH) frontliners such as doctors, nurses, health attendants and cleaners involving a sum of RM76,800. It also provides 515 ready-to-eat food packs from Sahabat Retort Sdn Bhd to the frontliners.

-- BERNAMA