Who can apply?

Malaysian citizen above 18 years old. Applicants are required to be a member of Koperasi Al-Najah (KL) Berhad with RM500 initial share and RM100 membership fee. Applicants should also not be in the blacklisted categories, bankruptcy, criminal cases, CTOS and CCRIS.

Purpose of micro credit?

• For expansion of business
• As start-up cost of new business venture.

• Other purpose subject to approval of the Ahli Jawatan Kuasa (AJK) from time to time (with supporting documents).

Tenure of the micro credit?

Maximum 1 year.

What is the loan amount?

Maximum RM30,000

What is the amount of processing fee and administration fee?

Payment of non-refundable initial processing fee and administration fee of RM200.

Upon approval of loan, all stamp duty together with administration fee will be deducted from the approved loan :

• Payment of administration fee is 1% of the approves loan amount or a minimum of RM200 whichever is higher (the initial fee paid will be deducted from the total administration fee):

Stamp duty is 0.5% from the approved loan amount and additional RM20 for supplementary documents.

What is the rate of interest chargeable in respect of the loan?

• 0% flat interest rate per month for maximum 1 year.

How is the money given after the application is approved?

Payment will be made directly to the relevant company without going through the borrower.

How long does it take for an applicant to become a member of Koperasi Al-Najah (KL) Berhad before making this micro credit loan?

Applicants must be a member of Koperasi Al-Najah (KL) Berhad for at least 1 month.

How does a borrower make monthly repayment?

Payment in cash can be made monthly at the office of Koperasi Al-Najah (KL) Berhad or payment directly to the special account of Koperasi Al-Najah (KL) Berhad by online transfer and check.

Can joint business owners apply?

Application may come from joint business owners or individuals who are members of Koperasi Al-Najah (KL) Berhad. (However, no corporation be in a limited company or firm may apply as only individual members of Koperasi Al-Najah (KL) Berhad are eligible)

Action to be taken if the borrower is late in making the payment.

Borrowers will be charged extra for each late payment notification letter issued. Late payment period must be made before or within 14 working days. The first notification letter costs RM18, the second notification letter costs RM25 and the last letter costs RM50.

What are the application procedures?

• Complete Koperasi Al-Najah (KL) Berhad Micro Credit Scheme Application Form and Koperasi Al-Najah (KL) Berhad Membership Application Form (In accordance with the Co-operative Societies Act 1993, the successful applicant has to enrol as a member of Koperasi Al-Najah (KL) Berhad with RM500 initial share and RM100 Membership entrance fees)
• Pay an initial processing fee and administration fee of RM200
• Submit 2 certified copies of identification card of the applicant and referral.
• Submit 1 passport-size photograph of the applicant and referral.
• Submit a recent copy of the applicant’s home & office telephone, electricity & water bills.
• Applicant’s latest three months company bank statement
• Submit a certified copy of Applicant’s and Referral proof of income (latest Income Tax Borang B/BE or EA Form or EPF Statement).

Where and how to obtain the Micro Credit Scheme and Koperasi Al-Najah membership application form?

Application forms for both Micro Credit and Koperasi Al-Najah (KL) Berhad membership can be downloaded from Koperasi Al-Najah (KL) Berhad Official Website at https://najahguru.com/

Duty completed applications are to be submitted to :

Koperasi Al-Najah (KL) Berhad The Place, Unit D-02-01, Level 2, Jalan Teknokrat 1/1, Cyber 3, 63000 Cyberjaya, Selangor.

Tel           : 03-86855108

Email       : admin@alnajah.app

The following are the initial payment when submitting your application:

– A cheque/ instant transfer for RM600 being membership initial share and entrance fee please attach proof of payment to “KOPERASI AL-NAJAH (KL) BERHAD”