Wan Junaidi delivers his winding-up debate on the Cooperative (Amendment) Bill 2020 in Dewan Negara. — Bernama photo
KUALA LUMPUR: The move to upgrade the Cooperative Institute of Malaysia (IKM) to a full university would not only empower cooperatives, but also benefit all their members.
Minister of Entrepreneur Development and Cooperatives (Medac), Datuk Seri Dr Wan Junaidi Tuanku Jaafar said the existence of such a university would indirectly provide the opportunity for members of cooperatives to study various knowledge linked to cooperatives.
“We are in the final stage of turning IKM into a university and we expect it can be realised in a year.
“We target that 30 per cent of the courses to be taught at the university to be knowledge related to cooperatives including finance, administration and laws so that every member of a cooperative can steer the cooperative (effectively),” he said.
He was speaking when winding up the debate on the Cooperative (Amendment) Bill 2020 in Dewan Negara yesterday.
Wan Junaidi said there were currently 14,625 cooperatives with over six million members nationwide.
“The university will not only expose the members to theoretical knowledge, but they would also be given the experience of administering cooperatives to the point they can generate income for the cooperatives which can also be shared with members,” he said.
In the meantime, he said Medac was also mulling to name the university, Universiti Ungku Abdul Aziz in remembrance of the deeds and contributions of the late Royal Prof Ungku Abdul Aziz Ungku Abdul Hamid in developing the cooperative movement in the country.
The late Ungku Aziz passed away at the age of 98, on Dec 15. — Bernama