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Tag: Bank Rakyat

  • Bank Rakyat appoints new MD and president

    Bank Rakyat appoints new MD and president

    Former Affin Bank group CEO and managing director Datuk Zulkiflee Abbas Abdul Hamid has been appointed Bank Rakyat’s managing director and president effective since yesterday.

    Zulkiflee, who has also served on the board of directors of Maybank Islamic, held the role of group CEO and managing director of Affin Bank from 2009 to 2015.

    On his plans for Bank Rakyat, Zulklifee said:“Give me a chance to explore what is available in Bank Rakyat. I might be able to provide a more comprehensive action plan after that as I have just begun my role as managing director and president of Bank Rakyat

    “I have large shoes to fill, but it is not an impossible task. With the team that I have, I should be able to come up with something soon,” he said.

    Zulkiflee has served on a number of industry committees, including as council member of the Association of Banks Malaysia as well as chairman of the audit committee of Malaysian Electronic Payment System or MEPS.

    He holds a Master in Business Administration and a Bachelor of Science in Marketing, both from Southern Illinois University, in the United States.

    Zulkiflee has served as advisory council member of the Insaniah Global Centre for Islamic Banking and Finance, member of the board of trustees of Yayasan Budiman UiTM, as well as treasurer of Tabung Pendidikan 1 Bilion.

    Bank Rakyat chairman Tan Sri Shukry Mohd Salleh said that the bank is looking forward to capitalising on Zulkiflee’s vast experience in the field of credit management, enterprise banking and corporate banking to grow the bank as an Islamic cooperative bank.

    Meanwhile, Bank Rakyat chief retail banking officer Mohd Shahril Isa has clarified that Bank Rakyat’s memorandum of understanding (MoU) signed with Bank Rakyat Indonesia (BRI) in February was only for the expansion of its remittance services.

    “The MoU is for cooperation works, not a merger.

    “We are not going to open a new business in Indonesia.

    “Instead, we are only expanding our remittance services to Indonesia by using BRI as our platform as BRI has a large network covering all the islands there,” said Shahril.

    Bank Rakyat’s remittance services in Indonesia will begin in the second or third quarter of the year.

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  • Bank Rakyat to enter Indonesia mart in Q2 this year

    Bank Rakyat to enter Indonesia mart in Q2 this year

    Bank Rakyat will enter the Indonesian market in the second quarter (Q2) of this year after getting approval from the authorities, including Bank Negara Malaysia.

    To this end, the bank said, it had signed a memorandum of understanding with Indonesia’s largest bank, Bank Rakyat Indonesia (BRI), today.

    In a statement, the bank said, the collaboration would enable both banks to provide money order services to over 700,000 Indonesians in Malaysia.

    Its Chief Retail Banking Officer, Mohd Shahril Isa, said Malaysia has the highest number of money order transactions worth US$1.9 bilion (US$1 = RM4.44) to Indonesia in 2016.

    “This is one of the main factors for Bank Rakyat to expand its banking services to the country,” he said.

    BRI was set up in 1895 and has 50 million retail clients, with over 10,612 business and services branches all over Indonesia, while Bank Rakyat is the largest Islamic cooperative bank in Malaysia with 147 branches.

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  • Bank Rakyat Indonesia launches country’s first floating bank

    Bank Rakyat Indonesia launches country’s first floating bank

    Bank Rakyat Indonesia (BRI) has launched a floating bank to make banking accessible to people residing in remote islands or coastal areas.

    The bank which has been named Teras BRI Kapal will currently provide its services to the Thousand Islands regency off north Jakarta. Its services would cover six islands including Pramuka Island, Tidung Island, Kepala Island, Untung Jawa Island, Harapan Island and Panggang Island, reported the Jakarta Post.

    The banks plans to introduce additional boats eventually to further expand its services to other remote islands.

    BRI president director Asmawi Syam was quoted a saying: “We want to provide services for people in coastal areas who previously did not receive optimum banking services.”

    The boat that will comprise 11 staff members including crew, guards and four BRI officers, a teller, a customer service officer and two account officers will provide services including savings, loans and money transfers. It will operate from Monday to Friday.

    As per plans, the bank will launch a new floating boat branch every year and will invest $1.11m (£710,872, €1.02m) on each branch.

    It also plans to cover areas including Ternate in North Maluku, Bau-bau in Southeast Sulawesi and Tanjung Selor in North Kalimantan in the future.