Spotlight on Amanah Ikhtiar amid plan for private firm to repay Putrajaya's loans

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Amanah Ikhtiar Malaysia (AIM) has long received international recognition for helping to uplift poor communities through microloans, but a plan that would fundamentally change its structure has put a spotlight on the trust that in recent years became involved in controversies.AIM is a private trust but has received strong government support since its inception in 1987, with RM857.97 million in government loans channelled to it.A representative from the Rural and Regional Development Ministry also sits on the board as an ex-officio member.Malaysiakini learned early this month that the AIM board had convened to discuss converting the trust into a company.Sources privy to the board discussion told Malaysiakini that the justification given was that AIM needed to repay its large debt to the government, with around RM600 million still outstanding, or risk a government takeover.The p…