I asked a question yesterday on Hijrah, a microcredit loan facility provided by the state government and its interest rate and whether Hijrah is having any advantages comparing in terms of interest rate in comparison with other microcredit facility in town and other loan facilities provided for SMEs by commercial banks.
Although some microcredit facilities, ie TEKUN may provide interest rate as low as four percents, borrowers may not be entitled to full loan amount and some deductions will be imposed on them.
I hope that Hijrah must double its effort not only in making it more competitive in terms of interest rate but it must also reach out to the non-Muslim entrepreneurs.
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