Religions: Muslim 60.4%, Buddhist 19.2%, Christian 9.1%, Hindu 6.3%, Confucianism, Taoism, other traditional Chinese religions 2.6%, other or unknown 1.5%, none 0.8% (2000 census)
Languages: Bahasa Malaysia (official), English, Chinese (Cantonese, Mandarin, Hokkien, Hakka, Hainan, Foochow), Tamil, Telugu, Malayalam, Panjabi, Thai
While it is clear that the poverty rate in on the decline there is controversy over the calculation of the poverty line in Malaysia.This article takes the view that there are two ways to lower the poverty rate: The first is by raising the income of the poorer families to above the
poverty line. The second method, and undoubtedly the easier option, is to lower the poverty line itself. The Malaysian government may be
presenting an unrealistically low poverty line in order to have "rosier" statistics.
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Micro-Financing
Microfinance is the provision of a broad range of financial services such as
deposits, loans, payment services, money transfers, and insurance to poor
and low-income households and their micro-enterprises.
A distinct legal framework needs to be created within the banking system for micro-credit financing to be effectively enhanced in
Malaysia as a poverty-fighting mechanism, says the man who made lending money to the poor a social and economic success.
"The existing banking law is an architecture for the super tanker that goes into deep waters whereby micro-credit is like a little boat that goes into shallow waters,"
Grameen Bank founder and managing director Prof Dr Muhammad Yunus said today. (Aug 2007)
The Grameen Bank is a bank owned by the poor, loaning its money exclusively to the poor. The majority of loans support traditional subsistence activities: planting a crop, buying a cow, raising chickens, or grinding grain. As a result, people receiving loans not only have better access to food, but in many cases they are able to use the small profits from selling excess food to secure necessities such as clothing and shelter. Loans – on the average less than $100, and rarely more than $300 – are granted without collateral; instead, applicants must form a committee of five friends or neighbors as social insurance on the success of the proposed project. About 96 percent of the bank's loans are made to women, who traditionally oversee food distribution, to ensure that this basic resource receives top priority in households’ and organizations’ management decisions.
Amanah Ikhtiar Malaysia is a non-governmental organization (NGO) which was designed
after the Grameen Bank in Bangladesh and has been actively involved in poverty alleviation
program since 1987. It is Malaysia's dominant MFI.
Up to 1998 AIM made some 103,000 loans and disbursed a total of RM 328 million
($86 million at the current exchange rate, considerably more if contemporary exchange rates are applied).
Some 80 per cent or more of all funds loaned were for economic purposes, the remainder for 'social' purposes (Sukor Kasim 2000).
AIM's activities have been directed almost entirely to the alleviation of poverty among poor Malays.
It was set up with a charter 'to disburse small loans on reasonable terms exclusively to the very poor households to finance
additional incomegenerating activities' (Gibbons and Sukor Kasim 1990) but for all practical purposes
has confined its attention to the Bumiputera, the indigenous (principally Malay)people.
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Comments (4)
jerry said
at 11:05 am on Mar 24, 2008
Great work on the brochure!
jerry said
at 11:10 am on Mar 24, 2008
Interesting format. Prof. Martin
Shelina said
at 5:56 pm on Apr 13, 2008
Hey Group 1,
I really liked your comparison of the same building over time in your Malaysia brochure. I also like how you guys have a separate section for the topics we're covering in class (like the Social Entrepreneurship and Corporate Social Responsibility). Shows you guys are really interested and on top of what's going on! Good job! :)
Scott said
at 1:16 pm on Apr 21, 2008
Great job on the cultural presentation today! There were lots of interesting facts- I wonder who you got them from? It was also cool to see the connection between China and Japan culture-wise, like the business card ritual being the same between the two countries. Great illustrative powerpoint, too!
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EXECUTIVE SUMMARY.doc
PovertyBrochure.doc
Group 1 Global Education FINAL.ppt
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Comments (4)
jerry said
at 11:05 am on Mar 24, 2008
Great work on the brochure!
jerry said
at 11:10 am on Mar 24, 2008
Interesting format. Prof. Martin
Shelina said
at 5:56 pm on Apr 13, 2008
Hey Group 1,
I really liked your comparison of the same building over time in your Malaysia brochure. I also like how you guys have a separate section for the topics we're covering in class (like the Social Entrepreneurship and Corporate Social Responsibility). Shows you guys are really interested and on top of what's going on! Good job! :)
Scott said
at 1:16 pm on Apr 21, 2008
Great job on the cultural presentation today! There were lots of interesting facts- I wonder who you got them from? It was also cool to see the connection between China and Japan culture-wise, like the business card ritual being the same between the two countries. Great illustrative powerpoint, too!
You don't have permission to comment on this page.