Wednesday, July 9, 2014

ARI-AIM-Mydin Islamic Microfinance Rountable

The Accounting Research Institute (ARI) thanks its collaborative partners, Amanah Ikhtiar Malaysia (AIM) and Mydin Holding for a recently held successful Roundtable session with Microfinance players.  Among the invited agency participants included ISRA', Bank Negara Malaysia, Bank Simpanan Nasional, TERAJU, MARA, INCEIF, Bank Islam, SME Corps, SME Bank, AgroBank, TEKUN and many others.  The main aims of the Roundtable session were to (i) For ARI to showcase its proposed Islamic Microfinance Model; (ii) Share research findings related to a microfinance pilot project in Tanjung Karang, hence highlights challenges and prospects related to the business model and (iii) Obtain feedback from the participants for the inclusion of shariah-based governance to ARI's existing framework.  Effectively, the Roundtable session was very successful.  In addition to Mydin Holding, a few more agency participants have in principle agreed to become future collaborative partners in this project.  Collaborative partners can participate either as Microfinance financiers, Suppliers or Marketers.  A Shariah-based contract has been proposed to be used to bind all business partners.  Islamic Microfinance represents one of ARI's research clusters which hopes to become an effective tool to alleviate poverty among the Ummah. Thank you all participants for your most precious feedback and input.