A note to you as a Funder
- Mekar has carefully audited Koperasi Syariah BMT ItQan’s financial statements and performance.
- All loans generated by Koperasi Syariah BMT ItQan are not non-performing loans; they have never been late in payments and have never been rescheduled. Thus, borrowers of these loans have a good credit record.
About Koperasi Syariah BMT ItQan
- Koperasi Syariah BMT ItQan was established in Bandung, West Java, in 2007.
- BMT is short for Baitul Maal wat Tamwiil, an Islamic financial institution that manages the distribution of zakah, waqf, alms and other Islamic social funds to improve the welfare of the poor.
- Koperasi Syariah BMT ItQan adopts the Grameen Bank model of group lending, modifying it to conform to the principles of Sharia.
- BMT ItQan started offering financing for its members’ micro businesses in early 2008. The initial loan sizes vary from IDR 200,000 up to IDR 1,000,000.
Koperasi Syariah BMT ItQan in numbers
As of May 2018:
- 5,744 borrowers
- IDR 35 billion in loans outstanding
- 0.77% non-performing loans
- 8 branch offices
- Coverage: Bandung, Subang, Garut and Cianjur
Koperasi Syariah BMT ItQan’s mission
To improve the welfare and independence of our members through:
- Continuous education for all members, management staff, and executives of the cooperative.
- Providing high quality savings, financing and other Sharia-compliant financial services.
- A commitment for service excellence to all stakeholders.
- Increasing the added value of our members’ investment by adopting a prudent business management strategy.