Cooperative Loan
Service
Pinjaman Koperasi or Cooperative loans, are financial services provided by cooperatives registered under the Cooperative Commission of Malaysia (SKM) to their members who are employed as civil officials in Malaysia.
Cooperative Loan
- Pinjaman Koperasi or Cooperative loans, are financial services provided by cooperatives registered under the Cooperative Commission of Malaysia (SKM) to their members who are employed as civil officials in Malaysia.
- It is a component of Malaysia's shadow banking system. Borrowers must be employees of government agencies, statutory bodies, firms that do business with the government, or municipal councils. These loans are supported by the Congress of Unions of Workers in the Public and Civil Services (CUEPACS) because they help civil servants get out of debt.
Cooperative loans in Malaysia have some characteristics in common, like:
- Repayment by salary deduction
- Sharia compliance
- Dependence on borrowed funds
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