About KoSimpanan

KOPERASI SIMPANAN DAN KREDIT BERSATU MALAYSIA BERHAD (KoSimpanan) is registered on 10 August 2005 under the Co-Operatives Societies Act 1993, initially under the name of KOPERASI PENGGUNA-PENGGUNA INSTITUSI KEWANGAN BERHAD.

On 12 April 2009, the Co-operative’s name has been changed to KOPERASI HIDAYAH MALAYSIA BERHAD. Subsequently, the Co-operative’s name has further changed to KOPERASI SIMPANAN DAN KREDIT BERSATU MALAYSIA BERHAD on 15 February 2012.

The main functions of KoSimpanan are to provide financial-related services to its members, which included, but not limited to, Syariah-Compliant Personal Financing scheme and Ar-Rahnu financing. As mentioned, KoSimpanan is the first (“non-bank”) co-operative to receive approval from SKM to accept deposit-taking from its members. KoSimpanan is under the purview of SKM and thus all its financing and deposit taking activities are managed and within the ambit of SKM’s Guidelines and regulated by SKM.