Marie Michael Library

Banking on the rural poor in Malaysia : Project Ikhtiar

Lucock, David A.

Project Ikhtiar began in 1985 as a project to test the viability of providing credit to poor families involved primarily in agricultural activities in Selangor State. The pilot project adapted a credit system used by the Grameen Bank in Bangladesh. By 1990, nine branches had made 999 loans to 1,782 members, with a loan recovery exceeding 99%. The project illustrates the success and importance of close and regular contact with borrowers coupled with the guaranteed availability of financial services to customers in good standing.