Entrepreneur helps the unemployed get ahead

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)