Thailand hosting 6th Ar-Rahnu Serantau Meeting in Pattani

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PATTANI, 8 July 2012  – One of Thailand’s southernmost border provinces is playing host to the 6th Ar-Rahnu Serantau General Meeting, which is set to prepare all involved for the arrival of the ASEAN Economic Community (AEC) in 2015.

Justice Minister Pracha Promnog, on Saturday, chaired the official opening of the 6th Ar-Rahnu Serantau General Meeting, a major gathering of the Islamic credit facilities-related agencies within ASEAN, in Pattani Province.

This year’s meeting is set to prepare all related parties in ASEAN for the realization of AEC, which will take place within less than 3 years.

Mr. Pracha said that Ar-Rahnu, or micro credit facilities, is a type of business transactions assisting the public and low-income members, who could be in need of short-term or emergency funds for their businesses.

He said that the goal of this service is to provide quick and non-complicate financial service with low fees for the general public, which complies with the teachings in the Koran.

The biennial meeting in Thailand sees the participation of representatives from 6 ASEAN nations, including Malaysia, Indonesia, Brunei Darussalam, Cambodia and Timor Leste.