Wednesday, July 24

Angkasa denies involvement in reported syndicated loan scam

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KUALA LUMPUR: The Malaysian National Co-operative Movement (Angkasa), through its subsidiary MyAngkasa Az Zahra Sdn Bhd, has denied involvement in a portal-reported syndicated loan scam.

MyAngkasa Az Zahra director Mohamad Shaharul Mohamad Shariff said the Angkasa name and logo were abused by that syndicate which had deceived many civil servants.

“We deny the portal’s report stating that Angkasa was involved in a syndicated loan scam as Angkasa and MyAngkasa Az Zahra recently developed a portal called Portal My AzZahra and it was officially launched by Entrepreneur Development Minister Datuk Seri Mohd Redzuan Yusof on Jan 25.

“Note that only verified co-operatives with this portal are eligible to give the loan and Angkasa only plays our part in approving the applicant’s salary deduction,” he told Bernama.

He said government employees and staff of government-linked companies (GLC) who have registered themselves under the Skim Potongan Gaji Angkasa (SPGA) and want a loan are required to apply through any of the 15 credit co-operatives registered with this portal as the operation is secured and there is also an audit trail function available.

The online portal reported the existence of a syndicate using the name of Angkasa to forge the salary slip of the borrower and also hand out only 50 per cent of the loan amount.

Mohamad Shaharul said Portal My AzZahra is Personal Data Protection Act 2010 (PDPA) compliant and all the personal data of applicants will be protected under the act.

He said the portal also functioned as an aggregator of Syariah-compliant co-operative financing products.

“The existence of this portal is to minimise the involvement of agents or middlemen by connecting the applicant directly with the co-operatives available on this portal and to prevent potential fraud by the credit company or loan sharks,” he said.

Mohamad Shaharul stressed that the participating co-operatives of the portal have undergone a strict evaluation process by Angkasa and MyAngkasa Az Zahra, and that only qualified co-operatives with a clean track record and offering only Cooperative Commission of Malaysia-approved products are allowed to come on board. — Bernama