Entrepreneur helps the unemployed get ahead

JAKARTA (JP): A young Moslem entrepreneur pledged to increase the amount of credit he extends to unemployed people in a southern Jakarta subdistrict.

Tasman, the manager of Baitul Mall Wattamwil, or Balai Usaha Mandiri Terpadu (Integrated Self-help Business Unit), said in his office on Jl. Mampang Prapatan that he had provided Rp 14 million (US$5,833) in interest-free loans to 107 unemployed people.

The people used the credit to start small businesses, such as roadside stalls. Many of them were school-aged children forced to work to help their parents.

"We even lend to people who want to start selling one crate of bottled tea," Tasman said last Tuesday, during a visit from Minister of Finance Mar'ie Muhammad.

"The cooperative is seeking greater membership of the cooperative unit," Tasman said.

Stall owners can also buy goods at wholesale prices from the cooperative, he said.

The cooperative is one of many similar bodies set up by the Association of Indonesian Moslem Intellectuals (ICMI) in cooperation with various non-governmental organizations throughout Indonesia.

During the visit Mar'ie said the cooperative was one of 1,342 others set up in cooperation with Bank Muamalat, a Moslem bank set up by the association.

Established five years ago, the bank pioneered the provision of interest-free bank credit.

The bank's assets grew from Rp 75 billion to Rp 530 billion in five years.

"We need more cooperatives such as this to run business based on profit sharing without interest for either borrowers or depositors," Mar'ie said. (03)