KUALA LUMPUR, April 10 (Bernama) — The Skim Amanah Rakyat 1Malaysia (Sara 1Malaysia) has received overwhelming response with more than 100,000 applicants have applied for the government-aided loan scheme since it was launched in January, the Dewan Rakyat was told.
Deputy Finance Minister Datuk Donald Lim Siang Chai when replying to Datuk Mohamad Aziz (BN-Sri Gading) on the status of the scheme, said that 62,427 applications had been approved so far.
On Mohamad’s suggestion that the scheme be expanded up to a million households, Lim said he would bring the suggestion to the attention of Finance Minister.
Sara 1Malaysia was introduced by Prime Minister Datuk Seri Najib Tun Razak to help 100,000 households with income below RM3,000 per month.
The special scheme, which aimed at encouraging the lower income group to save and invest and managed by Amanah Saham Nasional Bhd (ASNB), guarantees a return of between RM5,000 and RM13,000 after five years.
Source : Bernama