KOPERASI AL TAQWA OFFERS SYARIAH-COMPLIANT CAR FINANCING TO DIVERSIFY BUSINESS

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LANGKAWI, Dec 6 (Bernama) -- Koperasi Al Taqwa Kampung Kisap Langkawi Bhd

will introduce syariah-compliant car financing facilities next year in efforts

to diversify its business and generate income.

Its secretary, Mohd Nazri Hashim, said Bank Angkatan Koperasi Kebangsaan

Malaysia Bhd would offer the cooperative a loan which would be used as capital

to offer car financing.

"The residents in Langkawi will get an opportunity to apply for the

syariah-compliant car financing when applications are opened," he told Bernama

here today.

Meanwhile, he said, the cooperative would invest in the hotel industry to

meet the needs of tourists and to increase its sources of income.

"A hotel, named Al Taqwa Islamic Hotel, has been in operation since last

November in Kuah.

"The hotel, based on tour-and-study concept, aims to attract more tourists

to the island," he said.

He said the hotel has 20 rooms and the rates were between RM80 and RM120.

"The room is air-conditioned and has a refrigerator and television set.

"In addition, the hotel has a hall which can accommodate over 100 people,"

he said.

Mohd Nazri said the cooperative rented a building at a cost of RM6,000 a

month for use as the hotel.

"The hotel operation is expected to increase the earning of the cooperative

and in the long run benefit the members," he said.

He said the cooperative also acted as agents for telecommunications and

insurance companies.

"It also offers express postal services, insurance, road tax and others," he

said.

Mohd Nazri said Koperasi Al Taqwa was set up in July 2009 under Masjid Al

Taqwa Kampung Kisap.

"The cooperative, among the most active mosque cooperatives in Kedah,

currently has 100 members," he said.

He said an aggressive campaign to increase its membership to 5,000 within

two years would be launched.

Koperasi Al Taqwa is among 30 cooperatives in Langkawi. -- BERNAMA

ZI KAY THS

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