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Bank Rakyat branch to benefit 85,000 in Ranau
Published on: Tuesday, November 21, 2023
By: Clarence Dol
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Bank Rakyat branch to benefit 85,000 in Ranau
Ewon handing over the Rizq Plus Investment Account-i draw prize of RM100,000 to the winner of the October 2023 draw in conjunction with Bank Rakyat’s 69th anniversary
RANAU: Bank Rakyat remains committed to ensuring that every segment of society has access to financial services with the opening of the new Rakyat Xcess and Ar-Rahnu X’Change branch that will benefit 85,000 residents in Ranau.

The opening of the new branch was officiated by Minister of Entrepreneurship Development and Cooperatives, Datuk Ewon Benedick, here on Sunday.

Ewon said Rakyat Xcess offers a range of banking facilities that could be accessed by various levels of society such as opening a savings account.

“At the same time, the Ar-Rahnu X’Change provides Shariah-compliant financing secured by gold, which is a simple and fast Mortgage Tax Financing Scheme-i,” he said.

He added this initiative to expand the banking network is very much in line with the Ministry’s ongoing commitment in fulfilling the mandate to help develop the unserved and underserved.

This, he said, is especially true when referring to those in rural areas through the provision of various financial and banking solutions that suit the needs of individuals and businesses.

“The opening of Rakyat Xcess and Ar-Rahnu X’Change in Ranau, which is famous for its tourism activities, is also very much in line with the Government’s goal to boost economic and entrepreneurial activities in Sabah.

“This initiative also coincides with the concept of Madani Malaysia to provide accessibility to a more inclusive financial ecosystem,” added the Penampang MP.

Meanwhile, Bank Rakyat Acting Chairman, Datuk Mohd Irwan Mohd Mubarak, said that Bank Rakyat always takes proactive steps in strengthening its business network in every corner of the country.

“This is being done whether in the city or in the countryside, for the well-being of the community as a whole and not just for profit and its business operations alone.

“I also believe that this branch, equipped with facilities and services including financing products, savings and various other services, will benefit more than 85,000 residents I Ranau and surrounding areas, especially in carrying out easy, safe and fast banking,” he said.

At the same event, Bank Rakyat handed over the Rizq Plus Investment Account-i draw prize amounting to RM100,000 to the winner of the October 2023 draw in conjunction with Bank Rakyat’s 69th anniversary.

Bank Rakyat is now offering lucrative prizes totaling RM5.8 million with a grand prize of RM1 million.

The draw for this latest prize started at the beginning of last August until January 2025, and so far, the total amount of investment is as much as RM139 million involving more than 24,000 account holders.

In addition, the deadline for the draw for the RM1 million prize winner will be January 2024.

Therefore, Bank Rakyat is calling on the public to subscribe and invest through the Rizq Plus Investment Account-i before Dec 31 for a chance to become a millionaire.

In the programme on Sunday, Bank Rakyat also handed over donations from the Kasih Wira Negara Program to the three heirs of the Royal Malaysian Police officers who died in the 2013 Tanduo battle in Lahad Datu, in recognition of their courage and sacrifice in defending the country.

“Although it has been a decade since this incident happened, we should not forget their sacrifice. Hopefully, with the donation given this can ease the burden and provide support and cheer to the heirs,” said Ewon.

In addition, Bank Rakyat also carried out beautification activities including painting and repairing bus and pedestrian stops under the BaktiRakyat volunteering programme on 28 October 2023 involving a total of 38 Bank Rakyat employees in collaboration with the Ranau District Council.

This initiative was in line with the aspirations of the Sustainability Action Plan which was drawn up through the strategic plan of Bank Rakyat 2025 (BR25) to increase the value of cooperation, foster group spirit, erode self-importance and disdain for the community’s cultural environment.

There are 13 Bank Rakyat branches in Sabah including in Kota Kinabalu, Tawau, Sandakan, Likas, Keningau, Lahad Datu, Kota Belud, Beaufort, Penampang, Kota Marudu, Putatan and Semporna.

Meanwhile Ewon, who is also Kadamaian Assemblyman, said the Ministry of Entrepreneurship Development and Cooperatives (Kuskop) is always committed to increasing the economic growth of rural communities.

“This includes ensuring banking services and holistic financial solutions are accessible to all groups.

“Therefore, I think that this initiative to expand the banking network is very much in line with the Ministry’s ongoing commitment in fulfilling its mandate to help communities in rural areas obtain various services including financial and banking services that they need, just like the services enjoyed by communities in rural areas,” he said.

He said based on the 2024 Budget which has the theme of Economic Reform, Empowering the People, Kuskop was allocated RM778.8 million.

Of that amount, he said RM547 million is for development expenses and RM231.8 million for operating expenses.

This, he said, recorded an increase of RM46.4 million compared to the 2023 Budget, especially development expenditure which was added by RM26.8 million.

“With the increase in Kuskop’s allocation for the 2024 Budget, it will implement programmes and initiatives for the development of entrepreneurs and cooperatives for more beneficiaries.

“Therefore, I also place high hopes that PMKS and local cooperatives will be more competitive and able to increase their business capacity,” he said.

He congratulated Bank Rakyat and all those involved in making the opening of Rakyat Xcess and Ar-Rahnu X’Change a success.

“I also call on local residents here to explore and take advantage of the services provided by Rakyat Xcess and Ar-Rahnu X’Change Bank Rakyat to manage their finances,” he said.

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