Bank Rakyat to enter Indonesia mart in Q2
Published on: Tuesday, February 14, 2017
Kuala Lumpur: 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), Monday. In a statement, the bank said, the collaboration would enable both banks to provide money order services to over 700,000 Indonesians in Malaysia.
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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. Stay up-to-date by following Daily Express’s Telegram channel.
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