Interest scheme could serve as an alternative source of business funding for the Small and Medium Enterprises(SMEs) under the new Interest Scheme Act 2016, says the Companies Commission of Malaysia (SSM).

Chief Executive Officer Datuk Zahrah Abd Wahab Fenner said the law was a small part of the Companies Act 1965, previously under Division 5 Part 4 which has now been repealed and applied primarily to protect consumers in golf, recreational clubs, memorial parks and time-share schemes.

“Basically, interest scheme involves the pooling of financial contribution from the public in exchange for an interest in a particular scheme.

Source: Bernama