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Angkatan Koperasi Kebangsaan Malaysia Berhad president Dr Abdul Fattah Abdullah says as of May this year, 252 of the 610 credit cooperatives in Malaysia have obtained the shariah-compliant certificate which was issued since 2013. – Angkasa Facebook pic, July 8, 2022.

ANGKATAN Koperasi Kebangsaan Malaysia Berhad (Angkasa) has warned companies not affiliated to the agency against the misuse of its shariah compliant certificate.

Its president Dr Abdul Fattah Abdullah said since 2018 until today, the agency has received over 30 complaints and official reports related to the misuse of the certificate by irresponsible parties.

“The companies are mostly cooperatives not under Angkasa and their aim was to attract and convince the public to invest in their company, while the certificates are issued only to cooperatives and subsidiaries under Angkasa.”

“We do not have the right to give it (the certificate) to another party,” he told a press conference after the signing of a Memorandum of Agreement on Angkasa Credit Recovery and Collection Services (ACCRS) in Malacca today.

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The memorandum was signed between Angkasa and Koperasi Pekerja-Pekerja Kumpulan Sokongan Melaka Berhad, Koperasi Majlis Perbandaran Melaka Berhad and Koperasi Perubatan dan Kesihatan Melaka Berhad, to provide and improve services to ACCRS customers.

Abdul Fatah, who is also Asean Cooperative Organisation (ACO) president, said as of May this year, 252 of the 610 credit cooperatives in Malaysia have obtained the shariah-compliant certificate which was issued since 2013.

He said should there be doubts or if one has been deceived by such companies, report the matter to Angkasa or the police, and the complainants could also refer to Angkasa’s website or scan the QR code on the certificate displayed by the company in question.

Abdul Fattah said Angkasa was targeting 430 credit cooperatives to adopt the Angkasa Tawarruq System which promotes shariah-compliant financing.

“To date, 70 cooperatives have been using the system from 2021 to June 2022,” he said  adding that Angkasa is committed to protecting Muslim members from elements of usury while ensuring that the profits earned are a blessing. – Bernama, July 8, 2022. 

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