By Liana Zulkifli
GOMBAK, 2 October 2018: IIUM’s Centre of Islamic Economics (CIE) has drafted a plan to improve i-Taajir Entrepreneurship Mentoring Programme as an Islamic financing support system for Muslim entrepreneurs following success of 14 products from its first cycle.
“Around 12 to 14 participants had successfully presented their proposal and will be disbursed with the funding of around RM10,000 based on their plan, proposal, and feedback after our panel have considered it workable,” said Director of CIE, Prof. Mohamed Aslam Haneef in a recent interview with IIUMToday.
“They had undergone the opening and completed a two-week training session until their paperwork had been approved by the panel, aimed at changing the lifestyle of urban poor community through Islamic micro finance project.”
Asked about the concern of i-Taajir since Cycle 1, Mohamed Aslam Haneef said, “They tried to reach a certain mode of Islamic financing system which seems impossible as an alternative to ensure the money will be invested in the right track.”
Four Islamic modes of micro finance that had been introduced by CIE were Murabahah, Mudharabah & Musyarakah and Qardul Hasanah with zero interest, unlike the conventional bank.
The programme, to be held on 13 October, is also intended to train new entrepreneurs to start their business, help small traders, provide business and job opportunities, offer micro-finance facility, and improve their lifestyle and income.
I-Taajir Cycle 2 will widen the scheme to the non-Muslim traders which is supported by CIMB Islamic Bank.
“We want to prove that micro finance is for everyone and will convey Islamic values such as ‘amanah’ in our training,” said Mohamed Aslam, hoping that the Local Council will update the community data to ensure participants are really qualified.
Those interested may contact CIE Office at 03-61964745 or send email to cie@iium.edu.my for more inquiry.
Meanwhile, the Cycle 2 of I-Taajir will be held at Pusat Perumahan Rakyat (PPR) in Kuala Lumpur, targeting residents of around 2,000 people, besides IIUM’s students and staffs, and those interested to gain experience in Islamic financing model project.
This continuing programme aims to fund the lower income residents and to provide Islamic financing without Riba’ following success of the previously targeted group from transit houses, Kg. Sg. Kertas in Cycle 1 last April.***
