KUALA LUMPUR, Sept 17 -- Amanah Ikhtiar Malaysia (AIM) has won the Best Islamic Microfinance Institution Award for the seventh time at the 9th Global Islamic Finance Awards (GIFA) in Cape Town, South Africa on Monday.

In a statement, AIM said GIFA, one of the most prestigious awards in the Islamic financial services industry, accords recognition to selected individuals and organisations for their success and best practices in the Islamic finance sector.

AIM was nominated in the category along with three other financial institutions for 2019 award.

AIM chairman Datuk Junaidah Kiting said being a seven-time winner of the award denoted a clear benchmark that AIM is committed in assisting the government in eradicating poverty and raising the socioeconomic status of the low household income group.

She said as at August 2019, there were 352,830 recipients of Sahabat financing with cumulative loans amounting to RM22 billion.

AIM's achievement at the international level is supported by organisational excellence factors in terms of the number of Sahabat members, disbursement of financing capital and excellent percentage of loan repayments. 

The GIFA ceremony was attended by global Islamic finance industry experts, including renowned figures from the Gulf Cooperation Council, Malaysia, Indonesia, Pakistan, the United States, and European countries.

-- BERNAMA