Rural Industrial Development Authority
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| Agency overview | |
|---|---|
| Formed | 1 March 1966 |
| Jurisdiction | Malaysia |
| Headquarters | Ibu Pejabat MARA 21, Jalan Raja Laut 50609 Kuala Lumpur |
| Agency executives |
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| Parent agency | Ministry of Rural and Regional Development |
| Website | www |
The Majlis Amanah Rakyat (Malay: People's Trust Council, commonly abbreviated as MARA), is a Malaysian government agency. It was formed to aid, train, and guide Bumiputra (Malays and other indigenous Malaysians) in the areas of business and industry. MARA was formed on 1 March 1966 under the Rural and National Development Ministry.
MARA was formed by an act of Parliament in 1966. It had originally begun as the Rural Industrial Development Authority (RIDA), which was established by the British colonial administration in 1951, a program to provide economic assistance and support to Malay farmers and rural inhabitants. This organisation was expanded in scope and became the MARA in 1966. Although it is an autonomous government agency, it reports to the Minister of Rural and Regional Development, who appoints all the members of the MARA Council. Besides state-level offices in the 13 states of Malaysia and the Federal Territory of Kuala Lumpur, MARA operates three offices overseas — one in London, Washington, D.C. and another in Alexandria, Egypt.
For other things, MARA offers loans to Bumiputra entrepreneurs. Such loans may be repaid either in the conventional Western manner or in the style of Islamic banking, depending on the borrower's preference. MARA also offers entrepreneurship courses, vocational training, consultancy services, and assistance in marketing for Bumiputra entrepreneurs.
MARA constructs infrastructure, such as shoplots or factories, which are rented to Bumiputra entrepreneurs at a subsidised rate. These facilities are often constructed in towns or underdeveloped areas, to encourage further development there.
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Wikipedia